The Figure Below Shows the Isocost Lines and the Isoquant

question 3

Multiple Choice

The figure below shows the isocost lines and the isoquant map for a firm producing golf tees. FIGURE 8- 6
-Refer to Figure 8- 6. Suppose this firm is producing 3000 golf tees and is at point F on the isoquant map. In order to maintain its output and minimize costs this firm should

• A) not change its use of factors.
• B) employ more capital and less labour.
• C) employ more labour and less capital.
• D) move to an isocost line further from the origin.
• E) move to an isoquant closer to the origin.

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Definitions:

Foucault

Michel Foucault was a French philosopher and social theorist known for his work on power relations, social institutions, and the history of sexuality.

Power

The ability or capacity to influence or control the behavior of others, often associated with authority, wealth, or force.

Discourse

Ways of discussing, writing, or thinking about a subject, which shape and reflect collective understanding and social norms.

Discipline

A field of study or branch of knowledge; also refers to the practice of training to obey rules or a code of behavior.