b) There are two firms in the economy. Each firm employs positive amounts of capital and labour. The technology satisfies diminishing marginal rate of technical substitution of labour for capital. Currently, A's marginal rate of technical substitution of labour for capital is 4 while B's marginal rate of technical substitution of labour for capital is 2. Is the current production of the two firms efficient? If not, describe an exchange of inputs that would improve efficiency. Can these production levels of the two firms be observed in a perfectly competitive equilibrium of a production and exchange economy? Explain.

(c) Indicate a (license) fee, in pesos per day, that the government could charge to achieve the socially efficient (i.e. profit maximizing) number of wells.

What is the intervention process for a distressed project? (a) Requirements gathering and work breakdown structure construction(b) Conduct the earned value analysis (c) Conduct the earned value analysis and root cause analysis (d) None of the above

2.) If both demand and supply decrease at the same time this will cause _______ in equilibrium quantity and _____ in equilibrium price.   Select one: a decrease; an uncertain change   b. an uncertain change; an increase   c. an increase; an uncertain change   d. an uncertain change; a decrease     3.) Jon works as a carpenter part-time. That is his only job. He would prefer to have a full-time job but has been unable to find one. According to Statistics Canada, Jon is classified as:   Select one:   a. unemployed   b. employed   c. not part of the labour for   d. a discouraged worker