Suppose Labor Is on the Horizontal Axis and Capital on the Vertical

question 30

Multiple Choice

Suppose labor is on the horizontal axis and capital on the vertical axis.If the total cost is defined by the equation TC = $400 + $15L + $10K,the slope of the isocost curve is:

• A)-0.667
• B)-1.5
• C)-8
• D)-40

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Definitions:

Opposing Team

Refers to a group or team that is competing against another in a competitive event or situation.

Prosocial Behavior

Actions intended to benefit others, including helping, sharing, donating, cooperating, and volunteering.

Behavior

The actions or reactions of an individual or group in response to external or internal stimuli.

Society

A group of individuals living together in a more or less ordered community with shared laws, traditions, and values.