The Following Figure Shows Two Isocost Lines $I S _ { 1 }$

question 24

Multiple Choice

The following figure shows two isocost lines ( $I S _ { 1 }$ and $I S _ { 2 }$ ) and two isoquants for the production of 200 and 350 tons of corn.The axes show the quantities of the two types of fertilizers used in corn production.

-Refer to Figure .An increase in the slope of an isocost implies:

• A)the firm is using more of the input measured on the X-axis.
• B)the total cost incurred by the firm has declined.
• C)the input measured on the X-axis has become costlier.
• D)the price of both inputs has declined.

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Random Sample

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A statistical relationship between two variables where if one variable increases, the other decreases, and vice versa.

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The duration allocated or utilized in the act of catching fish either for leisure or commercial purposes.

Vegetarian

A dietary practice of abstaining from the consumption of meat and sometimes, by extension, other animal products.