An isoquant may be defined as a curve showing all combinations of inputs:
A)among which the firm is indifferent.
B)capable of producing a level of output.
C)which produce a level of output at minimum cost.
D)which incur a fixed level of TC.

Question

Quizplus · Accepted Answer

An isoquant represents all the combinations of inputs that result in the production of a specific level of output, illustrating the trade-offs a firm can make between different inputs while still producing the same amount of goods or services.

An Isoquant May Be Defined as a Curve Showing All