The Slope of an Isoquant Is Called the

question 57

Multiple Choice

The slope of an isoquant is called the

• A)rate of change.
• B)input price ratio.
• C)rate of technical substitution.
• D)substitution ratio.
• E)price-cost margin.

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Definitions:

Profit-Maximizing

A strategy or approach aimed at achieving the highest possible profit from business operations.

Fixed Cost

Costs that do not change with the level of output produced, such as rent, salaries, and insurance expenses.