What is an isocost line? What is the slope of an isocost line?
What will be an ideal response?
The isocost line shows all the combinations of two inputs, such as capital and labor, that have the same total cost. The slope of the isocost line is equal to the ratio of the price of the input on the horizontal axis divided by the price of the input on the vertical axis, multiplied by -1.
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Since 1982, banks and thrift institutions have offered a type of savings account that yields a market rate of interest with a minimum balance and a limit on transactions. These accounts, which have no minimum maturity, are known as
A) money market mutual funds. B) repurchase agreements. C) certificates of deposit. D) mutual funds.
What is one reason patents are required?
A) Information concerning innovation is private and secure. B) Human nature is corrupt. C) Information concerning innovation is generally not private and secure. D) The patent only makes things better in the short-run.
Due to a boom in the US, the average rate of return on investments is likely to rise causing the US dollar to
a. Appreciate b. Depreciate c. Not change in value d. None of the above
Of the recessions and expansions from 1950 to 1990, the common events were
a. reactions to war and oil prices b. tax increases and tax cuts c. changes in exports d. Decreases in welfare spending e. Increases and decreases in health care spending