Isoquants Are Usually Drawn Convex When Viewed from the Origin,reflecting

question 21

Multiple Choice

Isoquants are usually drawn convex when viewed from the origin,reflecting the standard assumption

• A)that both factors are subject to the law of diminishing returns.
• B)that the variable factor is subject to the law of diminishing returns.
• C)the positive marginal productivity of all factors.
• D)negative marginal productivity of all factors.
• E)that both factors are subject to increasing returns.

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Definitions:

Perception

The process of organizing and interpreting sensory information so that it makes sense.

Sensory Information

Data that is perceived by the sensory organs, such as eyes, ears, skin, and then processed by the brain to make sense of the environment.

Consciousness

The state of being aware of and able to think about oneself, one’s surroundings, and one’s thoughts and feelings.

Chemoreception

The biological process by which organisms detect chemical stimuli in their environment.