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Statement (A): The isoquant curves are drawn convex to the origin due to the diminishing technical rate of substitution.
Statement (B): The lesser the convexity of the isoquant curve, the greater the possibility of the complementarity of the two inputs.

Statement (A): The isoquant curves are drawn convex to the origin due to the diminishing technical rate of substitution.
Statement (B): The lesser the convexity of the isoquant curve, the greater the possibility of the complementarity of the two inputs. Correct Answer Statement (A) is correct but (B) is incorrect

Related Questions

Statement I The isoquant curves are drawn convex to the origin due to diminishing technical rate of substitution.
Statement II The lesser the convexity of the isoquant curve, the greater the possibility of the complementarity of the two inputs.
Indifference curves relating to supply of labour have a number of properties some of which are mentioned below
1. Indifference curves are downward slopping
2. Indifference curves are upward slopping
3. Higher indifference curves indicate lower levels of utility
4. Higher indifference curves indicate higher levels of utility
5. Indifference curves do not intersect
6. Indifference curves intersect
7. Indifference curves are concave to the origin
8. Indifference curves are convex to the origin
Which among the following properties are not true?
From an alloy, two specimens are machined and tested separately under tension and compression. The engineering stress-strain curves as well as the true stress-true strain curves for tension and compression are plotted in the same diagram. Identify the correct statements:
P. The engineering stress-strain curves in tension and compression are identical.
Q. The true stress-true strain curve in compression is lower than the true stresstrue strain curve in tension due to Bauschinger effect.
R. The true stress-true strain curve in tension is above the corresponding engineering stress-strain, curve.
S. The true stress-true strain curve in tension and compression are identical.
When labour is plotted on X-axis and capital is plotted on Y-axis and an isoquant is prepared, then which of the following statement(s) is/arefalse?
1. Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant.
2. Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour.
3. Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.
Consider the following statements about indifference curves: 1. Indifference curves are convex to the origin. 2. Higher indifference curve represents higher level of satisfaction. 3. Two indifference curves cut each other. Which of the statements given above is/are correct?
Consider the following statements about indifference curves: 1. Indifference curves are convex to the origin. 2. Higher indifference curve represents higher level of satisfaction. 3. Two indifference curves cut each other.Which of the statements given above is/are correct?
Why is an indifference curve convex to the origin? (A) Indifference curve slope downward to the right (B) Two commodities are imperfect substitutes (C) Declining marginal rate of substitution between commodities (D) Diminishing marginal utilities Choose the most appropriate answer from the options given below:
Which one of the following four addresses is NOT EXACTLY same as the other three? Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harrare ZIMBABWE (i) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harare ZIMBABWE (ii) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harare ZIMBABWE (iii) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harrare ZIMBABWE (iv) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harare ZIMBABWE
Which of the following functions is done by the All India Council of Technical Education? (a) To give approval to start new professional and technical educational institutes. (b) To decide criteria of technical education. (c) To evaluate technical education. Which of the statement(s) given above is/are correct?
In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives. Technical skill ____________ to the ability and knowledge to use the pedagogy, tools and techniques involved in the teaching and research of a specific subject. Ability in programming or software designing and operating a computer is, ___________ instance, a technical skill. There are two things a teacher should understand __________ transformational technical skills. In the first place, he must know __________ skill and what level of skill should be applied on a particular student. He should be ____________ enough with their potential to ask discerning questions. Secondly, a teacher must understand the role of each event organised and the transformational skill applied, and the inter-relationships between the events and skills. Technical skill ____________ to the ability