SUNY Buffalo State College - MGE 301

Chapter 5

1)When each additional unit of an input increases total output by more than did the previous unit, the firm is experiencing

2. In order for output along a given isoquant to be the same, which of the following is necessary?

3. A production function can include many inputs. Which of the following are most common used inputs?

3. What is the analytical tool that defines a combination of inputs that yields the same output?

5. The Leontief production function implies that isoquants are what shape?

6. Which of the following describes the maximum output that can be produced with a fixed set of inputs: