Multiple Choice
A technical innovation in a firm would
A) shift each isoquant away from the origin.
B) shift each isoquant toward the origin.
C) cause more to be produced with more capital and less labour.
D) cause more to be produced with more labour and less capital.
Correct Answer:
Verified
Related Questions
Q1: If both land and labour costs increased
Q4: The marginal rate of technical substitution is
Q11: Any point where the isocost line cuts
Q12: The point of least-cost input occurs where
Q14: The production isoquant line measures the different
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents