Changes in the price of an input cause:
A. slope changes in the isocost line.
B. isoquants to become steeper.
C. parallel shifts of the isocost lines.
D. changes in both the isoquants and isocosts of equal magnitude.
Answer: A
You might also like to view...
A federal deficit of $300 billion means that
A) the government plans on collecting $300 billion in taxes this year. B) the government has a total debt of $300 billion. C) the government is spending $300 billion a year more than it is collecting in taxes. D) government spending is $300 billion a year.
For twenty years, Jim was a customer service representation at a call center in Minnesota. In order to save money, his firm moved the call center to India and laid off Jim two years ago. Jim has been unable to find a similar job anywhere
Jim's unemployment is best classified as A) cyclical. B) competitive. C) structural. D) frictional. E) transported.
The food stamp program was started to _____
a. increase demand for agricultural products b. reduce poverty c. provide better nutrition for low-income individuals d. a and c
Entrepreneurship is
a. restricted to perfect competition. b. occurs only in well-functioning markets. c. the process of planting new crops. d. the process of taking business risks.