The Slope of a Typical Isoquant Is Negative Because to Produce

question 40

Multiple Choice

The slope of a typical isoquant is negative because to produce a given output, a producer

• A)will use more of one input only if it uses more of another.
• B)can use less of one input only if the productivity of that input increases
• C)can use less of one input only if it uses more of another.
• D)will use more of one input only if the price of that input falls.

---

Definitions:

Competition

The rivalry among businesses to attract customers and achieve market share.

Competitive Analysis

is the process of understanding competitors' strategies, strengths, and weaknesses to improve one's position in the market.

Comparison

Comparison is the act of evaluating two or more items, ideas, or situations to identify similarities and differences.

Competitive Advantage

A unique attribute or ability a company has that enables it to outperform its competitors.