If the production function is homogeneous, the expansion path will be a straight line through the origin whose slope determines the optimal:

A. L/K ratio

B. K/L ratio

C. P/L ratio

D. P/K ratio

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. In cournot model, during the process of adjustment, the number of firms:
  2. By saying that monopolist create a contrived scarcity, economist mean that monopolist:
  3. In the case of a giffen good, the income effect:
  4. Utility is:
  5. Ceteris paribus clause in the law of demand means:
  6. Each firm in cournot model assumes that its competitor will:
  7. Price discrimination occurs when:
  8. In perfect cartel, the:
  9. An increase in the supply of a commodity is caused by:
  10. Monopolistic firm can fix:
  11. At a point above the middle of a straight line demand curve, elasticity of demand is:
  12. A country is advised to devalue (reduce external value of) its currency only when its exports face:
  13. Excess capacity is not found under:
  14. Indifference curve represents:
  15. In measuring price-elasticity:
  16. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  17. The optimum level of output in long run takes place where:
  18. When total product increases at a decreasing rate:
  19. Change in quantity demanded refers to:
  20. An economic model describing the working of an economy consists of:
  21. Isocost line shows the combinations of labor and capital where a firms budget is:
  22. Income -elasticity of demand will be zero when a given change in income brings about:
  23. The combination of labor and capital where the cost of a given output is minimized is known as:
  24. Firms average and marginal revenues are equal under:
  25. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  26. The number of firms in monopolistic competition normally range between:
  27. The entry of new firms in cournot model is:
  28. Under competitive conditions, the industry will be in equilibrium:
  29. We get constant returns to scale when:
  30. Cartel is associated with: