Isoquants Are Convex to the Origin Due To

question 46

Multiple Choice

Isoquants are convex to the origin due to:

• A)the law of diminishing marginal utility.
• B)the assumption of the diminishing marginal productivity of each input.
• C)the fact that as less capital is used, its marginal productivity falls.
• D)the fact that as more labor is used, its marginal productivity rises.

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Definitions:

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Conservative View

A perspective in economics or politics that typically advocates for less government intervention, lower taxes, and reduced public spending to encourage private sector growth.

Liberal View

A perspective that generally emphasizes the need for government intervention in the economy to correct inequalities and provide welfare.

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