Isoquant curve is negative and is ___ to the origin
Answers
Answer:
Isoquant curve is negative and is _roloc☑️__ to the origin
Answer:
Isoquant curve is negative and is concave to the origin.
Explanation:
What is isoquant curve?
In the study of microeconomics, an isoquant curve is a concave-shaped line on a graph that shows all the elements, or inputs, that result in a given amount of output. This graph serves as a gauge of the impact that inputs most frequently, labour and capital have on the level of output or production that is feasible.
The isoquant curve helps enterprises and firms adapt inputs to maximize production and, consequently, profits.
- A concave line on a graph, known as an isoquant curve, displays all possible combinations of two inputs that yield the same amount of output.
- An isoquant typically depicts combinations of labour and capital as well as their technological trade-offs.
- The isoquant curve helps organizations and corporations optimize their manufacturing processes so that they can create the most products at the lowest possible cost.
Properties of isoquant curve :
1. An isoquant curve has a negative slope, or downward slope. This means that the same level of production only takes place when rising input units are balanced by falling input units from another source.
2. The MRTS effect causes an isoquant curve to be convex to its origin. This shows that different production factors can be used in place of one another. However, a drop in one input element must still be combined with an increase in another.
3. Tangent and intersecting isoquant curves are not possible. As a common factor combination on each of the curves will show the same level of output, which is not feasible, curves that intersect are wrong and provide results that are invalid.
Hence, Isoquant curve is negative and is concave to the origin.
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