The slope of an isocost line ________ and equals the negative of ________
A) increases as we move down the line; the ratio of input prices
B) is constant; the ratio of input prices
C) is constant; the ratio of the marginal products
D) decreases as we move down the line; the ratio of the marginal products
B
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An industrious franchisee will
a. Always be outbid by lazy ones for the right to run a franchised restaurant b. Always outbid the lazy ones for the right to run a franchised restaurant c. Never outbid the lazy ones for the right to run a franchised restaurant d. None of the above
A bond is a financial security that represents a promise to repay
A) a yearly interest payment only. B) a yearly principal payment only. C) a yearly interest payment and a principal payment. D) Bonds are investments that do not promise any kind of repayment.