Which of the following is (are) characteristics of an isocost curve? The slope shows the rate at which the firm can substitute labor for capital while holding
Total cost constant.
A) The slope shows the rate at which the firm can substitute labor for capital while holding
B) total cost constant.
C) The slope shows the rate at which the firm can substitute labor for capital in the market.
D) If the price of capital is unchanged and the price of labor increases, the intercept of the isocost curve on the horizontal axis will decrease.
E) both a and c
F) all of the above

Question

Which of the following is (are) characteristics of an isocost curve? The slope shows the rate at which the firm can substitute labor for capital while holding
Total cost constant.
A) The slope shows the rate at which the firm can substitute labor for capital while holding
B) total cost constant.
C) The slope shows the rate at which the firm can substitute labor for capital in the market.
D) If the price of capital is unchanged and the price of labor increases, the intercept of the isocost curve on the horizontal axis will decrease.
E) both a and c
F)	all of the above

Quizplus · Accepted Answer

The Answer of Which of the following is (are) characteristics of an isocost curve? The slope shows the rate at which the firm can substitute labor for capital while holding
Total cost constant.
A) The slope shows the rate at which the firm can substitute labor for capital while holding
B) total cost constant.
C) The slope shows the rate at which the firm can substitute labor for capital in the market.
D) If the price of capital is unchanged and the price of labor increases, the intercept of the isocost curve on the horizontal axis will decrease.
E) both a and c
F)	all of the above

Which of the Following Is (Are) Characteristics of an Isocost