An Individual Isocost Line Is a Downward Sloping Straight Line

question 25

Multiple Choice

An individual isocost line is a downward sloping straight line.The negative slope reflects

• A)decreasing factor prices.
• B)increasing factor prices.
• C)that each factor price has a negative value.
• D)a change in relative factor prices.
• E)constant factor prices.

---

Definitions:

Service Satisfaction

The level of contentment customers feel with the quality and delivery of a service, often reflecting their likelihood to use the service again.

Utilitarian Needs

Needs motivating the consumer to purchase something practical and functional.

Cycle

A sequence of events or processes that recur regularly, returning to the starting point and often leading to predictable outcomes.

Expectancy Theory

A theory that explains the behavioral process of why people choose one behavioral option over others, suggesting that individuals are motivated by an expected outcome.