This topic contains a solution. Click here to go to the answer

Author Question: If inputs into production cannot be substituted for each other but have to be employed in fixed ... (Read 116 times)

genevieve1028

  • Hero Member
  • *****
  • Posts: 601
If inputs into production cannot be substituted for each other but have to be employed in fixed proportions isoquants are straight, downward-sloping lines.
 
  Indicate whether the statement is true or false

Question 2

Unlike indifference curves, isoquants can intersect.
 
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

gcook

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

False. Isoquants are straight lines when inputs are perfect substitutes. When input relations are fixed they are right angles.

Answer to Question 2

False. By the same logic as with indifference curves, the intersection implies the same level of output. Since output increases as one moves toward the northeast on the isoquant map, moving from the intersection one isoquant shows higher output and the other shows lower. This is contradictory.




genevieve1028

  • Member
  • Posts: 601
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it


ecabral0

  • Member
  • Posts: 310
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

For a complete list of videos, visit our video library