Chapter 1. eFigure 6.3

eFigure
Isoquants
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You must read each slide, and complete any questions on the slide, in sequence.
E-Figure Title
Question 1 of 4

Question 1.

Reflecting on the graphical representation of the short-run production function and isoquant, please identify which variables are on the axes of the two graphs.

A.
B.
C.
D.

100
Correct! The short run production function describes how production changes as one input changes, labor. Accordingly, the axes for the short run production function are labeled with labor and output. The isoquants describe all the levels of capital and labor that can produce the same level of output. Accordingly, the axes are labor and capital.
Incorrect! The short run production function describes how production changes as one input changes, labor. Accordingly, the axes for the short run production function are labeled with labor and output. The isoquants describe all the levels of capital and labor that can produce the same level of output. Accordingly, the axes are labor and capital.