Question

the peak of the isoprofit curve has which of the following characteristics?multiple choiceit is the point at which monopoly profits are always achieved.it is the point at which the isoprofit curve crosses the reaction function.it is the point on the isoprofit curves associated with the highest profit.it is the point on the isoprofit curves where cournot competitors can efficiently achieve collusion profits.

Answer 1

The peak of the Isoprofit curve has it is the point on the Isoprofit curve associated with the highest profit. The correct option is C.

What does the slope of the Isoprofit curve mean?

The slope of an iso-quant curve is known as the rate of technical substitution, and it indicates how much capital must be substituted for labor to produce the same amount of output if labor is reduced by one unit. As a result, the input factors can be swapped out to produce the same level of output.

The peak is the highest and final point of anything. If the firm reaches this point on the Isoprofit curve, it has risen above the response function. The organization is doing well and making more money.

Thus, the ideal selection is option C.

Learn more about the Isoprofit curve here:

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