Multiple Choice
Long-Run Production: Two Variable Inputs
-Lectures in microeconomics can be delivered either by an instructor (labor) or a movie (capital) or any combination of both.Yet the it gets harder and harder to substitute more movies for an instructor the more movies are already used.Which graph in the above figure best represents the isoquants for lectures in microeconomics when capital per day is on the vertical axis and labor per day is on the horizontal axis?
A) Graph A
B) Graph B
C) Graph C
D) Graph D
Correct Answer:
Verified
Correct Answer:
Verified
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