Author Question: If the cost of labor decreases the isocost line will A) stay the same. B) shift outward in ... (Read 107 times)

go.lag · **on:** Jul 1, 2018

If the cost of labor decreases the isocost line will

A) stay the same.
B) shift outward in parallel fashion.
C) rotate outward around the point where only capital is employed in production.
D) shift inward in parallel fashion.

Question 2

Suppose we know that 10 Spanish Galleons sunk in the Atlantic ocean carrying approximately 50 tons of gold, but the exact location of these shipwrecks is unknown. Would this gold add to the world reserve?

A) Yes, we know it exists.
B) No, we know it exists but we can't extract the gold.
C) Yes, it's only a matter of time before the shipwrecks are discovered.
D) No, there are no established property rights over the shipwreck so they cannot add to world reserves..