Which of the Following Statements About Isoquant Maps Is True

question 52

Multiple Choice

Which of the following statements about isoquant maps is true?

• A)They can illustrate diminishing returns to production only when they have numerical values attached.
• B)They cannot illustrate economies of scale unless some numerical values are attached.
• C)They always have positive slope.
• D)They always have negative slope.

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Definitions:

Justifiable Reliance

A principle in contract law that an individual can act based on the assurance or promise of another, assuming such dependence is reasonable and logical.

Contract Enforcement

The legal mechanisms and procedures used to ensure that the terms of a contract are fulfilled by the parties involved, or to seek remedies in cases of breach.

Restatement

A revision or rewriting of legal documents or statutes for clarification and simplification without changing the fundamental meaning.

Second

A unit of time equal to one sixtieth of a minute, used as a standard measure of time.