The slope of an isoquant measures
A) the ratio of the marginal utility of the two inputs.
B) the price ratio of the two inputs.
C) the rate at which inputs can be substituted for each other keeping total output constant.
D) the average product of labor.
C
You might also like to view...
Which of the following is considered investment?
A) Johnny buys a new car for his wife as an anniversary gift. B) James purchases a new car to replace an old car in his cab business. C) Maina purchases a new car for commuting to and from work. D) Jane purchases a new car for commuting to and from school.
Private investment from a foreign country is known as
a. development assistance. b. foreign direct investment. c. technical progress. d. the cost disease of personal services.
A price floor set above the equilibrium price causes quantity supplied to exceed quantity demanded
a. True b. False Indicate whether the statement is true or false
When a monopolist sells two units of output its total revenue is $600. When a monopolist sells three units of output its total revenue is $690. In order to sell three units of output instead of only two, the monopolist must
A. decrease its price by $70 per unit. B. decrease its price by $30 per unit. C. decrease its price by $90 per unit. D. make no change in price and increase output by one unit.