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Question: Nswer true or false to the following questions: 1. The production function gives all technologica...

Show transcribed image text nswer true or false to the following questions: 1. The production function gives all technologically feasible combinations of inputs and 2. In the short term all inputs are fixed. 3. The marginal product is always decreasing 4. An isoquant gives a input combinations that yield a certain output level. 5. The short-term profit maximizing demand for a variable input depends, in general, n the amount available of the fixed input. 6. The profit maximizing level for a firm with constant returns to scale is always zers, 7. A firm that minimizes costs also maximizes profits. 8. The average fixed costs are fixed. 9. The average variable cost curve is always above the average total cost curve. 10 For a prolit maximization firm under competitive markets we always require the marginal cost of producing the optimal output level to be equal to the output price

nswer true or false to the following questions: 1. The production function gives all technologically feasible combinations of inputs and 2. In the short term all inputs are fixed. 3. The marginal product is always decreasing 4. An isoquant gives a input combinations that yield a certain output level. 5. The short-term profit maximizing demand for a variable input depends, in general, n the amount available of the fixed input. 6. The profit maximizing level for a firm with constant returns to scale is always zers, 7. A firm that minimizes costs also maximizes profits. 8. The average fixed costs are fixed. 9. The average variable cost curve is always above the average total cost curve. 10 For a prolit maximization firm under competitive markets we always require the marginal cost of producing the optimal output level to be equal to the output price