George's shoe store buys and sells shoes in pairs.If George's isoquants are drawn with quantity of right shoes on the vertical axis and quantity of left shoes on the horizontal axis,what do they look like? They are:
A) curves that get flatter as the number of left shoes increases.
B) curves that get steeper as the number of left shoes increases.
C) straight lines that have a negative slope.
D) L-shaped.
E) horizontal straight lines.

Question

Quizplus · Accepted Answer

Since shoes are bought and sold in pairs, the isoquants will have a unique L-shape. The x-axis will represent the quantity of left shoes, while the y-axis will represent the quantity of right shoes. Each point on the L-shaped isoquant represents a combination of left and right shoes that can be paired to form one complete pair. As the quantity of left shoes increases, the quantity of right shoes needed decreases, resulting in a flatter part of the L. As the quantity of left shoes decreases, the quantity of right shoes needed increases, resulting in a steeper part of the L.

George's Shoe Store Buys and Sells Shoes in Pairs