Question 1
Refer to the information provided in Figure 7.8 below to answer the question(s) that follow.
Refer to Figure 7.8. The slope of isocost
CD is
◦ -1.
◦ -2/3.
◦ 0.
◦ indeterminate from this information, as the prices of capital and labor are not given.
Question 2
Refer to the information provided in Figure 7.8 below to answer the question(s) that follow.
Refer to Figure 7.8. The slope of isocost
CE is
◦ -1.
◦ -2/3.
◦ 0.
◦ indeterminate from this information, as the prices of capital and labor are not given.