What can be determined by the slope of the curve. The relationship between the relative price of cigars to soyabean (Pc / Ps) and the wage-rental ratio (w/r) is depicted by the SS labelled curve. Relative price of cigars, Pc/Ps SS Wage-rental ratio, w/r a) Neither good is capital-intensive b) Both are labor-intensive. c) Both are capital-intensive. d) Cigars are labor-intensive while soyabeans are capital-intensive.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Please provide accurate and correct answers to both questions without explanation. Thank you for your assistance.

What can be determined by the slope of the curve. The relationship between the relative price of
cigars to soyabean (Pc / Ps) and the wage-rental ratio (w/r) is depicted by the SS labelled curve.
Relative price of cigars, Pc/Ps
SS
Wage-rental ratio, w/r
a) Neither good is capital-intensive
b) Both are labor-intensive.
c) Both are capital-intensive.
d) Cigars are labor-intensive while soyabeans are capital-intensive.
Transcribed Image Text:What can be determined by the slope of the curve. The relationship between the relative price of cigars to soyabean (Pc / Ps) and the wage-rental ratio (w/r) is depicted by the SS labelled curve. Relative price of cigars, Pc/Ps SS Wage-rental ratio, w/r a) Neither good is capital-intensive b) Both are labor-intensive. c) Both are capital-intensive. d) Cigars are labor-intensive while soyabeans are capital-intensive.
According to profit regulation, how much firm will produce?
PRICE (Dollars)
00
75
2 2 2 2 2 2
30
20
0
10 20
30 40 50 60
QUANTITY (Units)
a. 48 units.
b. 76 units
c. 52 units
d. 84 units
70
00
ATC
90 100
Transcribed Image Text:According to profit regulation, how much firm will produce? PRICE (Dollars) 00 75 2 2 2 2 2 2 30 20 0 10 20 30 40 50 60 QUANTITY (Units) a. 48 units. b. 76 units c. 52 units d. 84 units 70 00 ATC 90 100
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