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If a person likes A but dislikes B, which of the following might represent his/her utility function? u =2A3B U =2A2+3B1/2 U = 2A2 x
If a person likes A but dislikes B, which of the following might represent his/her utility function? u =2A3B U =2A2+3B1/2 U = 2A2 x 331/2 u=2A+3B When labor is on the horizontal axis and capital is on the vertical axis, the steeper an isoquant is the more substitutable labor is for capital. the lower the marginal productivity of labor relative to the marginal productivity of capital. the higher the marginal productivity of labor relative to the marginal productivity of capital. the more a firm can produce for any given amount of labor and capital
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