Assume Your Company Produces Good X Using Only Two Inputs,capital

question 1

Multiple Choice

Assume your company produces good X using only two inputs,capital (K) and labor (L) .Also,assume L is measured on the vertical axis and K on the horizontal one.If the prices of inputs are P_K = $30 and P_L = 15,and your company is behaving efficiently,what is the slope of the isoquant at the current input mix?

• A)-2
• B)-1/2
• C)2
• D)1/2

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Definitions:

Concurrent Validity

A measure of how well a particular test correlates with a previously validated measure taken at the same time.

Clinicians

Healthcare professionals who are involved in the diagnosis and treatment of patients.

Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Validity

The extent to which a test, tool, or research study accurately measures what it intends to measure.