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QUESTION 1 Inputs are also called 0 a. factors of production 0 b. conditional factor demands Q o. isoquants Q d. marginal product QUESTION 2 The technological constraints of the firm can be graphically depicted using (choose all that apply C] a. conditional factor demands C] b.isoquants C] 0. production function E] d. technical rate of substitution QUESTION 3 What is the technical rate of substitution for the following production function? f(x1,x2)=2x1+4x2 where x1 = 8 denotes input 1 and x 2 = 4 denotes input 2 |:| QUESTION 4 What is the technical rate of substitution for the following production function? Round to the fourth decimal place. f (x 1 , x2) =3x134 x 2 2 10 where x 1 = 10 denotes input 1 and x 2 = 8 denotes input 2QUESTION 5 When the slope of the production function becomes flatter as we increase the amounts of inputs this means that the production function exhibits, (check all that apply. C] a. constant returns to scale C] b. diminishing rate of technical substitution C] c. decreasing returns to scale C] d. diminishing marginal product