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MT2Fall2008 - Name Class Date MT2Fall2008 Multiple Choice...

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Name: ________________________ Class: ___________________ Date: __________ ID: A 1 MT2Fall2008 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. An isoquant shows the possible combinations of two a. products that yield the same social utility b. products that can be produced after an improvement in technology c. products that can be produced using the constant amount of resources available d. resources that involve an identical total cost e. resources that produce an identical quantity of the product ____ 2. The marginal rate of technical substitution is the rate at which Exhibit 7-14 ____ 3. Consider Exhibit 7-14. The rotation from AB to AC reflects a(n)
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