The isocost line:
A) is another name for an isoquant
B) has the same slope as the isoquant at all points
C) has the same slope as the isoquant in equilibrium
D) has a slope of MRTS
Correct Answer:
Verified
Q41: Isoquants increase in the level of output:
A)
Q42: An isoquant cannot:
A) be upward-sloping
B) be downward-sloping
C)
Q43: The choice of techniques depends on:
A) managerial
Q44: Ag policy in the US has subsidized
Q45: MRTS is equal to:
A) ΔX2/ΔX1
B) Δ1/ΔX2
C) ΔY/ΔX
D)
Q47: Equilibrium is:
A) ceteris paribus
B) sanity; balance
C) a
Q48: If the price of land increases, ceteris
Q49: Labor-intensive production techniques are most likely to
Q50: Capital-intensive production techniques are most likely to
Q51: Sugar (=X1, in oz) and flour (=X2,
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