A change in the slope of an isocost line is due to a change in
A) the price of one or both inputs. B) quantity of output.
C) total cost. D) the output price.
A
Economics
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An economically backward nation has the best chance of enjoying relatively high rates of economic growth if it
A) turns toward central economic planning. B) adopts advanced technologies. C) raises its minimum wages and government pension programs. D) limits imports as much as possible.
Economics
Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. To Liza,
A) ice cream and hot fudge and substitutes. B) ice cream is a normal good and hot fudge is an inferior good. C) ice cream and hot fudge are normal goods. D) ice cream and hot fudge are complements.
Economics