_____ Gives the Slope of an Isocost Line Where Labor

question 43

Multiple Choice

_____ gives the slope of an isocost line where labor (L) and capital (K) are the two inputs measured on the X and Y axes respectively.

• A)The ratio of the marginal product of capital to the marginal product of labor, with a negative sign,
• B)The ratio of price of labor to the price of capital, with a negative sign,
• C)The ratio of the price of capital to the price of labor
• D)The ratio of the marginal product of labor to the marginal product of capital

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Definitions:

Authoritative

Commanding and self-assured; often associated with someone who possesses a great deal of knowledge or expertise.

Permissive

Describes a parenting or authority style that is lenient, allowing considerable freedom and few restrictions.

Self-Control

The ability to regulate and manage one's actions, feelings, and emotions in the face of temptations and impulses.

Self-Reliance

Depending on one's own capabilities, judgment, or resources rather than those of others.