A Straight-Line Isoquant

question 81

Multiple Choice

A straight-line isoquant:

• A) is impossible.
• B) would indicate that the firm could switch from one output to another costlessly.
• C) would indicate that the firm could not switch from one output to another.
• D) would indicate that capital and labor cannot be substituted for each other in production.
• E) would indicate that capital and labor are perfect substitutes in production.

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Definitions:

Unauthorized Use

The use of something, typically intellectual property or physical assets, without the permission or rights to do so.

ATM Card

A card used together with a personal identification number (PIN) to gain access to an automatic teller machine (ATM).

Executor

An individual appointed by a will to execute or carry out the instructions and distribute the estate of the deceased.

Obligated

Required by law, contract, or agreement to perform or refrain from performing a certain action.