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:

Multiple Roles

Describes the situation of individuals who simultaneously engage in various social positions or responsibilities, such as being a parent, employee, and spouse, and the complexities that arise from managing these roles.

Spouse

A partner in marriage or a committed intimate relationship.

Parent

A caretaker of offspring in their own species; also involves the guidance, care, and emotional support of a child.

Worker

An individual engaged in a specific activity or employment, especially for wage or salary.