The combinations of inputs that produce a given level of output are depicted by:

A. isoquants.
B. isocost curves.
C. budget lines.
D. indifference curves.

Answer: A

Economics

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A situation in which one nation produces good A using labor more intensively (relative to capital) than good B and a second nation, producing good A, uses capital more intensively (relative to labor) than good B is called:

A. a reversal of factor intensities. B. a paradox of factor intensities C. backward technology. D. micro intensity.

Economics

Which of the following was not a factor contributing to the debt crisis in Latin America?

(a) The oil shocks. (b) Trade liberalization in many developing countries. (c) An increase in global interest rates. (d) A lack of investment opportunities in the developed countries. (e) All of the above.

Economics