When the Isocost Line Is Tangent to the Isoquant,then

question 48

Multiple Choice

When the isocost line is tangent to the isoquant,then

• A) MRTS = -w/r.
• B) the firm is producing that level of output at minimum cost.
• C) the last dollar spent on capital yields as much extra output as the last dollar spent on labor.
• D) All of the above.

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Definitions:

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A claim or assertion that something is the case, typically in a legal context, without having been proven.

Tort Law

A body of law that addresses and provides remedies for civil wrongs not arising out of contractual obligations.

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Sanctions imposed by a court for violations of criminal laws, which can include fines, imprisonment, or other forms of punishment.

Retaliation

The act of taking adverse action against someone as a response to a complaint or misconduct reporting, particularly in the workplace.