Isoquants are convex to the origin due to: Group of answer choices the law of diminishing marginal utility. the fact that as less capital is used, its marginal productivity falls. the fact that as more labor is used, its marginal productivity rises. the assumption of the diminishing marginal productivity of each input.

The correct answer is the last option: the assumption of the diminishing marginal productivity of each point.

Explanation:

On the one hand, the isoquants are the curves used in the study of microeconomics that particulary show the different combinations of inputs that a company can use in the production of its product with the purpose of maximizing it.

On the other hand the law of diminishing marginal productivity establishes that as long as a particular factor in the production keeps increasing then the productivity of the produciton will slowly decrease with each increase of the factor mentioned before.

So in conclusion, the isoquants are convex curves because that law establishes that if a factor goes up, the productivity goes up as well but at a lower level until eventualy goes down.

L

yes, pursuant to UCC, Section 2-201

Explanation:

Statute of frauds is a provision that requires certain transactions be in writing. This is usually based on the amount involved in the transaction.

In the given scenario according Section 2-201 of the UCC a contract that is above $500 should not be entered unless there is a written contract.

An oral contract won't suffice In this case.