The Slope of the Isoquant Is

question 89

Multiple Choice

The slope of the isoquant is

• A) -MPL/MPK.
• B) the marginal rate of technical substitution.
• C) negative.
• D) All of the above are correct.

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Definitions:

Upward Shift

describes an increase or improvement in a given metric or condition, often depicted in graphs or charts.

Labor Productivity

A measure of economic performance that compares the amount of goods and services produced with the number of hours worked to produce them.

Labor Deepening

An increase in the investment made in the education and training of the workforce, leading to a more skilled labor force.

Education Level

A measurement of the highest degree of schooling or training a person has completed.