Answer:
D. All the above are correct
Step-by-step explanation:
An isocost line will be shifted further away from the origin if the total cost increases, if the price of both inputs increases or there is an advance in technology.
An isocost line can be defined as the graphical representation of various combinations of two inputs factors (labor,L and capital, K) which the firm can afford or purchase with a given amount of money.
An isocost line can be expressed mathematically as:
C = w L + r K
Where,
C = cost of production
w = price of labor or wages
L = units of labor
r = price of capital or interest rate
K =units of capital
Isocost is used to determine what combination of factor inputs the firm will choose for production process.
P would equal 64. This is because 64 divided by 8 is 8.
Hello!
First we have to find the median
We have to order the numbers from least to greatest
72, 83, 87, 90, 97, 101, 114, 117, 142
The median is 97
Next we have to find quartile 1
you look for the median for the numbers under 97
It is 83 and 87
You get the average
83 + 87 = 170
170 / 2 = 85
quartile 1 is 85
Next we find quartile 3
Look for the median for the numbers above 97
The numbers are 114 and 117
Get the average
114 + 117 = 231
231/2 = 115.5
Now you find the range between the quartiles
You do quartile 3 - quartile 1
115.5 - 85 = 30.5
The answer is 30.5
Hope this helps!
