One Way to Explain the Convexity of Isoquants Is to Say

question 64

Multiple Choice

One way to explain the convexity of isoquants is to say that

• A) as labor increases and capital decreases, MP_L rises while MP_K falls.
• B) as labor increases and capital decreases, MP_L falls while MP_K rises.
• C) as labor increases and capital decreases, MP_L and MP_K both fall.
• D) as labor increases and capital decreases, MP_L and MP_K both rise.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.