When the Level of Capital Is Plotted on the Vertical $\mathrm { W }$

question 81

Multiple Choice

When the level of capital is plotted on the vertical axis and the level of labor is plotted on the horizontal axis, the slope of the isocost line is (assuming $\mathrm { W }$ is the price of labor and $r$ is the price of capital and production uses only these two inputs) :

• A) \(- w / r\)
• B) \(- r / w\)
• C) \(M P _ { K } / 1 P _ { 1 }\)
• D) \(M _ { 1 } / M P _ { K }\)

---

Definitions:

Accredit

The process by which an institution or program meets specified standards and is recognized by an official agency.

Certify

To officially recognize someone or something as possessing certain qualifications or meeting specific standards.

Elderly

Individuals who are significantly beyond the average age of retirement, often considered to be ages 65 and older.

Tertiary Health Care

Specialized consultative health care usually for inpatients and on referral from a primary or secondary health professional, involving advanced and complex procedures and treatments.