Consider a Firm's Isocost Line Where Labor Is Measured on the Horizontal

question 9

Multiple Choice

Consider a firm's isocost line where labor is measured on the horizontal axis and capital on the vertical axis.If everything else is unchanged,a fall in the price of labor would:

• A)increase the horizontal intercept of the isocost line.
• B)shift the isocost line outward away from the origin.
• C)shift the isocost line inward toward the origin.
• D)increase the vertical intercept of the isocost line.

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Definitions:

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