The Slope of an Isoquant Is

question 68

Multiple Choice

The slope of an isoquant is

• A)-∆K/∆L.
• B)MP_L / MP_K.
• C)the marginal rate of technical substitution .
• D)both a and b
• E)all of the above

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Definitions:

Ration Reimbursement

The allocation of financial resources for healthcare services based on pre-determined criteria, often as part of cost-control measures in healthcare settings.

Uninsurable

Refers to a person or risk that is not acceptable for insurance coverage due to high risk.

Free Rider Problem

A phenomenon where individuals benefit from resources or services without paying for them or contributing to their provision, leading to underfunding and potential depletion of those resources.

Healthcare

The organized provision of medical care to individuals or a community, including preventive, diagnostic, therapeutic, and rehabilitative services.