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Unformatted text preview: E. Technical rate of substitution. Quiz Question 3: At point C the labor required to produce 150 units of output is 7.5. What is the name given to this quantity of labor? A. Labor demand. B. Conditional labor demand. C. Marginal labor demand. D. Technically efficient labor demand. E. Economicially efficient labor demand. Quiz Question 4: What kind of production technology does this graph depict? A. Decreasing returns to scale. B. Constant returns to scale. C. Increasing returns to scale. D. Not enough information to know. Quiz...
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This note was uploaded on 02/07/2011 for the course ECON 100A taught by Professor Woroch during the Fall '08 term at Berkeley.
- Fall '08