Which of the Following Is Not a Property of Isoprofit

question 10

Multiple Choice

Which of the following is not a property of isoprofit curves graphed in Probability of Injury (x-axis) versus Wage (y-axis) space?

• A) All points on each isoprofit curve yield the same level of profit.
• B) Profit-maximizing firms are indifferent as to where they operate on any given curve.
• C) Isoprofit curves going out along the x-axis yield higher profits.
• D) Isoprofit curves going up along the y-axis yield higher profits.
• E) Isoprofit lines are upward sloping.

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Definitions:

Usage of Trade

Customary practices and usages that parties to a transaction in a particular trade commonly observe.

Commercial Dealing

Activities involved in the purchase and sale of goods and services in the marketplace.

Industry

The economic activity concerned with the production of goods, services, and the extraction of raw materials.

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An agreement in which one party agrees to purchase all of his or her requirements of a particular product from another party. See also output contract.