One way to explain the convexity of isoquants is to say that
A) as labor increases and capital decreases, MPL rises while MPK falls.
B) as labor increases and capital decreases, MPL falls while MPK rises.
C) as labor increases and capital decreases, MPL and MPK both fall.
D) as labor increases and capital decreases, MPL and MPK both rise.
Question 2
To say that isoquants are convex is to say that
A) the marginal rate of technical substitution falls as labor increases.
B) capital and labor are perfect substitutes.
C) labor, but not capital, is subject to the law of diminishing marginal returns.
D) there are constant returns to scale.
The proportion of men and women with elevated blood pressure or taking hypertension medication incre
The areas in which reading-associated increases in activity were observed in the fMRI study of ...
Dose-response relationship. As the dose of a drug increases, a maximal response or plateau is ...
Capital’s Share of Income in a Cross-Section of Countries
E9-23 Prepare income statements Explain the difference in operating income
Please fully explain the answer with steps