Economy, asked by mamikhawlhring083, 5 months ago

explain clearly producer's equilibrium with isoquant​

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Answered by apurvakadam29
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Answer:

Briefly explain how isoquant curves and isocost lines determine the producer's equilibrium. Answer: Isoquant curve shows combinations of inputs employable to produce a certain output. Isocost lines portray cost combinations of two inputs like capital and labour which produce the same amount of output.

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