An L-shaped isoquant A) is impossible. B) would indicate that the fi
An L-shaped isoquant
A) is impossible.
B) would indicate that the firm could switch from one output to another costlessly.
C) would indicate that the firm could not switch from one output to another.
D) would indicate that capital and labor cannot be substituted for each other in production.
E) would indicate that capital and labor are perfect substitutes in production.
ANSWER
D
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