Suppose Labor Is on the Horizontal Axis and Capital Is

question 55

Multiple Choice

Suppose labor is on the horizontal axis and capital is on the vertical axis.If the wage rate is $15 per worker per hour and the rental rate of capital is $10 per unit per hour,what is the slope of the isocost curve?

• A)-0.667
• B)-1.5
• C)-10
• D)-15

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Definitions:

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Organic compounds made of carbon, hydrogen, and oxygen atoms, serving as a major energy source and part of the structural components of cells.

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Large, complex molecules made up of amino acids that play many critical roles in the body, including in structures, functions, and regulations of tissues and organs.

Profit Margins

The difference between the cost of goods sold and the sale price, expressed as a percentage of sales revenue.

Social Networking

The creation and maintenance of personal and professional relationships, especially online, through websites and applications.