Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K 16 15 14 13 12 11 10 9 8 54 7 6 5 4 32 2 1 A B D q=100 q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 L Which of the following statements about Instacart's MRTS at input mixes A and B is incorrect? O Instacart's MRTS is greater at input mix A, relative to its MRTS at input mix B Instacart's MRTS is greater at input mix B, relative to its MRTS at input mix A Instacart's MRTS is the same at both input mix A and B Not enough information is provided to compare the MRTS at input mixes A and B

Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K 16 15 14 13 12 11 10 9 8 54 7 6 5 4 32 2 1 A B D q=100 q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 L Which of the following statements about Instacart's MRTS at input mixes A and B is incorrect? O Instacart's MRTS is greater at input mix A, relative to its MRTS at input mix B Instacart's MRTS is greater at input mix B, relative to its MRTS at input mix A Instacart's MRTS is the same at both input mix A and B Not enough information is provided to compare the MRTS at input mixes A and B

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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