If we take the production function and hold the level of output constant, allowing the amounts of capital and labor to vary, the curve that is traced out is called:
A) the total product.
B) an isoquant.
C) the average product.
D) the marginal product.
E) none of the above

Question

Quizplus · Accepted Answer

An isoquant represents all the possible combinations of capital and labor that can produce a given level of output. So, if we hold the level of output constant and vary the amounts of capital and labor, we can trace out an isoquant curve. Therefore, the correct answer is B) an isoquant.

If We Take the Production Function and Hold the Level