The Absolute Value of the Slope of an Isocost Line

question 243

Multiple Choice

The absolute value of the slope of an isocost line equals the ratio of

• A)the marginal productivities of the two inputs.
• B)the prices of the two inputs.
• C)the marginal utilities of the two inputs.
• D)the quantities of the two inputs.

---

Definitions:

Single-Price

A pricing strategy where a product or service is sold at one fixed price to all customers.

Extreme-Value Retailer

is a retail store offering products at very low prices, often focusing on discounted, overstock, and closeout merchandise.

Warehouse Club

A membership-based retail store offering a wide variety of merchandise, often in bulk, at discounted prices.

Annual Membership Card

A card issued to members granting them access to benefits and services for a year, often used by clubs, organizations, or businesses to foster customer loyalty.