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The Expansion Path

Question 69

Multiple Choice

The expansion path


A) is always a straight line that slopes upward
B) shows the least-cost input combinations for producing each level of output, if input prices are constant
C) shows the utility-maximizing combinations of products that society can produce, given resources and technology
D) shows the economic growth made possible when technology improves
E) shows the firm's profit-maximizing quantity of output at various product prices

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