Which of the Following Is a Property of an Isoquant

question 28

Multiple Choice

Which of the following is a property of an isoquant?

• A)It is concave to the origin.
• B)Its slope is given by the ratio of the marginal products, for example, (marginal product of capital) ÷ (marginal product of labor), where capital and labor are measured on the Y and X-axes respectively.
• C)It gives the lowest-cost way of producing a certain level of output.
• D)Isoquants cannot intersect each other.

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Definitions:

Output-Related Measures

Quantitative assessments related to the results or outputs of processes, often used in productivity or performance evaluation.

Quantitative Assessments

Evaluations or measurements that involve numerically quantifiable variables, often used in various fields such as finance, research, and education to make objective judgments.

Sales Performance

A measure of how effective a company or individual is at generating revenue through sales activities.

Combination Compensation Plan

A compensation structure that involves a mix of salaries, commissions, bonuses, or other incentives to motivate employees or sales agents.