Isoquants Are Normally Drawn with a Convex Shape Because

question 181

Multiple Choice

Isoquants are normally drawn with a convex shape because:

• A) inputs are perfectly substitutable.
• B) inputs are perfectly complementary.
• C) inputs are not perfectly substitutable.
• D) inputs are not perfectly complementary.

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Definitions:

Contingency Approach

A management theory that suggests the most appropriate style of management is dependent on the context of the situation.

Universal Process Approach

A management theory suggesting that certain principles of management apply to all organizations, advocating the use of standardized procedures and practices.

Theory X

A management concept that assumes employees are inherently lazy and will avoid work if they can, suggesting the need for strict supervision and control.

Self-direction

The ability to set a course or take action independently, often related to personal or professional goal setting and achievement.