Multiple Choice
The following figure shows two isocost lines ( and ) and two isoquants for the production of 200 and 350 tons of corn.The axes show the quantities of the two types of fertilizers used in corn production.
-Refer to Figure .An increase in the slope of an isocost implies:
A) the firm is using more of the input measured on the X-axis.
B) the total cost incurred by the firm has declined.
C) the input measured on the X-axis has become costlier.
D) the price of both inputs has declined.
Correct Answer:

Verified
Correct Answer:
Verified
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