budget line is also known as iso product line true or false
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Answer:
false
because it in also known
Consumption possibility line
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It is false.
Budget line is not known as iso product line.
- Budget line shows all possible combinations of two goods that can be consumed by an individual at a given income and market price.
- Whereas, iso product curve shows all possible combinations of two factors that can produce same level of output.
- Budget line is from consumer's perspective whereas iso product line is from producer's perspective.
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