Let a Firm Use Labor $( L )$ And Capital $( K )$

question 26

Multiple Choice

. Let a firm use labor $( L )$ and capital $( K )$ as its only inputs to produce an output, $Q$ . The cost of labor is $w = \$ 5$ per labor hour and the cost of capital is $r = \$ 15$ per machine hour. When capital is measured on the vertical axis and labor on the horizontal axis, what is the slope of an isocost line for this firm?

• A) \(- 3\).
• B) \(- 5\).
• C) \(- 15\).
• D) \(- 1 / 3\).

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