The Isoquants for Inputs That Are Perfect Substitutes for One

question 19

Multiple Choice

The isoquants for inputs that are perfect substitutes for one another consist of a series of:

• A) right angles
• B) parallel lines
• C) concentric circles
• D) right triangles
• E) none of the above

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Definitions:

Liabilities

Financial obligations or debts a company owes to others, which must be paid back in the future.

Return on Assets

A financial ratio that indicates how profitable a company is relative to its total assets.

Net Income

The profit a company makes post all deductions of expenses and taxes from its overall revenue.

Assets

Assets held by a company or person anticipated to yield benefits in the future.