Isoquants Are Usually Drawn Convex When Viewed from the Origin,reflecting

question 21

Multiple Choice

Isoquants are usually drawn convex when viewed from the origin,reflecting the standard assumption

• A)that both factors are subject to the law of diminishing returns.
• B)that the variable factor is subject to the law of diminishing returns.
• C)the positive marginal productivity of all factors.
• D)negative marginal productivity of all factors.
• E)that both factors are subject to increasing returns.

---

Definitions:

Asphalt Paving Industry

The sector involved in producing asphalt and constructing roads, parking lots, and other surfaces with asphalt.

Automobile Industry

A global sector involving the design, production, marketing, and sale of motor vehicles.

Clothing Styles

The distinct characteristics and trends in how people dress as influenced by cultural, social, economic, and personal factors.

Law Enforcement Officials

Individuals authorized by the government to enforce laws, maintain public order, and protect lives and property.