an isoquant curve shows
Answers
Explanation:
The isoquant curve is a company's counterpart to the consumer's indifference curve. Essentially, the curve represents a consistent amount of output. The isoquant is known, alternatively, as an equal product curve or a production indifference curve. It may also be called an iso-product curve.
The isoquant curve is a graph, used in the study of microeconomics, that charts all inputs that produce a specified level of output. This graph is used as a metric for the influence that the inputs have on the level of output or production that can be obtained. The isoquant curve assists firms in making adjustments to inputs to maximize outputs, and thus profits.
The term "isoquant," broken down in Latin, means “equal quantity. The isoquant curve is a company’s counterpart to the consumer’s indifference curve. Essentially, the curve represents a consistent amount of output. The isoquant is known, alternatively, as an equal product curve or a production indifference curve. It may also be called an iso-product curve.