Which of the following is not a property of isoprofit curves graphed in Probability of Injury (x-axis) versus Wage (y-axis) space?

A. Profit-maximizing firms are indifferent as to where they operate on any given curve.
B. All points on each isoprofit curve yield the same level of profit.
C. Isoprofit curves going up along the y-axis yield higher profits.
D. Isoprofit curves going out along the x-axis yield higher profits.
E. Isoprofit lines are upward sloping.

Answer: C

Economics

You might also like to view...

What are some of the problems with using the leading indicators to forecast recessions? If you were a policymaker, would you rely on them?

What will be an ideal response?

Economics

Isabel purchases a $1,000 face value one-year Treasury bill for $934.58, and the next day investors decide they will only buy one-year Treasury bills if they receive an interest rate of 9%

If Isabel decides to sell her Treasury bill to another investor the day after she purchased it, she will A) receive a capital gain of $28.04. B) receive a capital gain of $7.76. C) suffer a capital loss of $18.69. D) suffer a capital loss of $17.15.

Economics