The Slope of the Isoquant Tells the Firm How Much

question 43

Multiple Choice

The slope of the isoquant tells the firm how much

• A) output increases when labor increases by one unit.
• B) output increases when capital and labor are doubled.
• C) capital must decrease to keep output constant when labor increases by one unit.
• D) a unit of capital costs relative to the cost of labor.

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Definitions:

Cognitive and Psychomotor

Pertaining to the processes of thought and motor actions that result from or influence cognitive functions.

Physical Dependence

A physiological state where the body becomes accustomed to a substance, requiring its presence to function normally.

Phobic Disorder

A mental health condition characterized by an excessive and irrational fear of a specific object, situation, or activity.

Intense

Describes a state or emotion that is deeply felt or extreme in nature, often implying a high degree of emotional, physical, or activity-related fervor.