Interior Solutions of the Cost Minimizing Problem, Given Convex Isoquants

question 2

Multiple Choice

Interior solutions of the cost minimizing problem, given convex isoquants, are characterized by:

• A)diminishing marginal rate of technical substitution.
• B)a tangency between an isoquant and an isocost line.
• C)a solution on one of the axes.
• D)an intersection between an isoquant and an isocost line.

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Definitions:

Diaphysis

The central shaft of a long bone, distinct from the ends of the bone, which are called epiphyses.

Condyle

A rounded protuberance at the end of some bones, forming an articulation with another bone.

Osteoblasts

Cells responsible for bone formation, playing a crucial role in bone growth and repair.

Achondroplasia

A genetic disorder affecting bone growth, leading to dwarfism due to shortening of the limbs but with a normal-sized torso.