Question
Verbal Reasoning Question on Statements and Inferences
Given below are two statements :
Statement I : The ridge line define the production plan in which substitution between two inputs is technically feasible without affecting the output.
Statement II : It can be identify by locating the point on the various isoquant at which MRTS=0.
In the light of the above statements. choose the most appropriate answer from the options given below :
A
Both Statement I and Statement II are correct
B
Both statement I and Statement II incorrect
C
Statement I is correct but Statement II is incorrect
D
Statement I is incorrect but Statement II is correct
Answer
Both Statement I and Statement II are correct
Explanation
Solution
The correct answer is (A) : Both Statement I and Statement II are correct.