If the Costs of Labor and Capital Increase in the Same

question 52

Multiple Choice

If the costs of labor and capital increase in the same proportion,the isocost line will

• A) stay the same.
• B) shift outward in a parallel fashion.
• C) rotate inward around the point where only capital is employed in production.
• D) shift inward in a parallel fashion.

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Definitions:

Elmina

A town in Ghana known for its historic Elmina Castle, a major trading post during the transatlantic slave trade era.

Caboceer

A title used in parts of Africa to refer to a local chief or leader.

Juan Garrido

A black conquistador who accompanied Spanish explorers in the early 16th century, noted for being among the first Africans to arrive in the Americas.

Aztec Empire

A Mesoamerican empire based in what is now Mexico, known for its complex social structure, monumental architecture, and advanced agricultural practices before the Spanish conquest in the 16th century.