In a Competitive Industry, Output Is Produced with Skilled and Unskilled

In a competitive industry, output is produced with skilled and unskilled labor. Factor-biased technical change that increases the productivity of skilled labor, will, at a given ratio of skilled to unskilled labor, shift any given isoproduct curve ________ the origin and ________ the absolute slope of the isoproduct curve (when the number of skilled labor is along the horizontal axis) . Pick the best pair of answers

A) towards, steeper
B) towards, flatter
C) away from, steeper
D) away from, steeper.

Correct Answer:

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