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citycyborg citycyborg
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3 years ago


Short description: A graph plots Q subscript L against Q subscript K. Long description: The horizontal axis represents Q subscript L. The vertical axis represents Q subscript K. The graph plots two lines and two curves. One of the decreasing lines is labelled the Isocost line that begins at a point on the vertical axis and ends at a point on the horizontal axis. The other line is increasing it begins at the origin. The first curve representing Q equals 1000 is concave up decreasing. It passes through points, A, B, and C. It intersects the lines at B. The second curve representing Q equals 2000 is concave up decreasing. The second curve intersects the increasing line at D.

FIGURE 8-3

Refer to Figure 8-3. The firm is initially operating at point B. An improvement in technology would be represented by



▸ a movement toward point D.

▸ a new isoquant map.

▸ a new isocost curve.

▸ a movement toward the origin.

▸ a shift to the curve indicated by Q = 2000.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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jchang19jchang19
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citycyborg Author
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3 years ago
Helped a lot
sleinhi
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Yesterday
Smart ... Thanks!
gma_of_7
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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