Author Question: An isoquant A) must be linear. B) cannot have a negative slope. C) is a curve that shows all ... (Read 75 times)

rosent76 · **on:** Jul 1, 2018

An isoquant

A) must be linear.
B) cannot have a negative slope.
C) is a curve that shows all the combinations of inputs that yield the same total output.
D) is a curve that shows the maximum total output as a function of the level of labor input.
E) is a curve that shows all possible output levels that can be produced at the same cost.

Question 2

When the bandwagon effect exists, a change in price is likely to

A) change total revenue less than if there were no network externalities.
B) change total revenue more than if there were no network externalities.
C) change total revenue the same amount as if there were no network externalities.
D) not change total revenue at all.