February 21, 2017

Homework Help: managerial economics

Posted by tina on Saturday, August 28, 2010 at 8:52pm.

Which of the following are characteristics of a typical isoquant?
a. All input combinations on the isoquant will produce the same level of output.
b. The marginal rate of technical substitution decreases as more labor is substituted forless capital.
c. a change in input prices shifts the isoquant map.
d. both a and b
e. none of the above.

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