The Expansion Path for a Homothetic Production Function

question 6

Multiple Choice

The expansion path for a homothetic production function:

• A)is a straight line through the origin with a slope greater than one if w > v.
• B)is a straight line through the origin with a slope less than one if w < v .
• C)is a straight line through the origin though its slope cannot be determined by w and v alone.
• D)has a positive slope but is not necessarily a straight line.

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Definitions:

Structural-functionalism

A sociological theory that views society as a complex system whose parts work together to promote stability and integrity.

Conflict Theory

A sociological perspective that views social life as a competition, and focuses on the distribution of resources, power, and inequality within a society.

Marxism

A socio-political and economic ideology based on the works of Karl Marx, focusing on class struggle, the critique of capitalism, and the advocacy for a classless society.

Exemplary Character

Relates to individuals or actions serving as ideal examples or models in moral, ethical, or social contexts.