The total cost of producing a given level of output is:. a. minimized when marginal product multiplied by input price is equal for all inputs.
b. minimized when the marginal products of all inputs are equal.
c. maximized when a corner solution exists.
d. minimized when the ratio of marginal product to input price is equal for all inputs.

Which of the following is most likely to lead to a general decrease in wages? a. elastic demand b. public goods c. an economic recovery d. immigration 2b2t

If you were running a company, what are at least two things you could do to improve its productivity.

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers.firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?