A Curve That Shows All the Combinations of Two Inputs

question 62

Multiple Choice

A curve that shows all the combinations of two inputs, such as labour and capital, which will produce the same level of output is called

• A)an isoquant.
• B)an isocost line.
• C)a budget line.
• D)an optimal input combination curve.

---

Definitions:

UCC

The Uniform Commercial Code, a set of laws that govern commercial transactions in the United States.

Negotiation

Negotiation is a process of discussion aimed at reaching an agreement where two or more parties with different needs and goals discuss an issue to find a mutually acceptable solution.

Holder

A person in possession of a document of title or an instrument payable or indorsed to him, his order, or to bearer.

Indorsement

The act of signing one's name on the back of a negotiable instrument, such as a check, thereby transferring rights or ownership.