FIGURE 8-4 -Refer to Figure 8-4,with the Isoquants and Isocost Line as Line

question 126

Multiple Choice

FIGURE 8-4
-Refer to Figure 8-4,with the isoquants and isocost line as shown.A firm that is producing at point C can reduce its costs for producing 1000 units by employing

• A)less capital and less labour.
• B)more capital and less labour.
• C)less capital and more labour.
• D)more capital and more labour.
• E)less labour and the same capital.

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Definitions:

Furniture

Movable articles intended to support various human activities such as seating, eating, and sleeping, often used to outfit a living or working space.

Cash

Money in the form of currency that can be used immediately for transactions, considered the most liquid asset.

Capital

Financial assets or the financial value of assets, such as cash and goods, used to start or operate a business.

Office Equipment

pertains to fixed, long-term assets used in an office environment for the business operations, such as computers, printers, and furniture, distinct from the broader term "equipment" by its office-specific use.