Lectures in microeconomics can be delivered either by an instructor (labor)or a movie (capital)or any combination of both.Each minute of the instructor's time delivers the same amount of information as a minute of the movie.Which graph in the above figure best represents the isoquants for lectures in microeconomics when Capital per day is on the vertical axis and Labor per day is on the horizontal axis?
A)Graph A
B)Graph B
C)Graph C
D)Graph D

Question

Quizplus · Accepted Answer

The isoquants for lectures in microeconomics would be straight lines with a negative slope, indicating perfect substitutability between labor and capital, as each delivers the same amount of information per minute.

Lectures in Microeconomics Can Be Delivered Either by an Instructor