Multiple Choice
_____ gives the slope of an isocost line where labor (L) and capital (K) are the two inputs measured on the X and Y axes respectively.
A) The ratio of the marginal product of capital to the marginal product of labor, with a negative sign,
B) The ratio of price of labor to the price of capital, with a negative sign,
C) The ratio of the price of capital to the price of labor
D) The ratio of the marginal product of labor to the marginal product of capital
Correct Answer:

Verified
Correct Answer:
Verified
Q38: You withdraw some of your savings to
Q39: If all inputs are raised by equal
Q40: Let the marginal product of capital (MPK
Q41: The introduction of new technology and changes
Q44: Jeff owns a garage and has 3
Q45: The profit-maximizing rule of production is to
Q46: Discuss the relation between average variable cost
Q47: Define returns to scale.
Q48: <br>The following figure shows the cost curves
Q208: What is a production function?