The slope of an isoquant tells us
A) how much output increases when both inputs are increased.
B) the increase in MPL when capital increases.
C) the decrease in capital necessary to keep output constant when labor increases by one unit.
D) the decrease in capital necessary to keep MPL constant when labor increases by one unit.
C
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Which of the following CAN be true about a person who is officially considered unemployed?
A. That person has a job B. That person is an active member of the military C. That person is a prisoner D. That person has been turned down for employment in the last four weeks
Under Federal Trade Commission merger guidelines, an industry with a Herfindahl-Hirschman index (HHI) of 800 points is considered
A) competitive. B) moderately concentrated. C) concentrated. D) a monopoly.