Question

short note on Isoquant​

Answer 1

Answer:

Plz thank me mark as brainlist hope you help

Answer 2

Isoquant is a graphical curve in Production Economics, which shows the various combinations of two inputs or factors of production(usually labor and capital) to achieve a certain fixed amount of output.

Explanation:

Characteristics of Isoquant:

• Each Isoquant represents a fixed level of output indicating that any input/factor combinations within that particular Isoquant would generate a fixed level of output.
• An isoquant located above another usually denotes a higher level of output than the one located below.
• Two isoquants can never cross or intersect each other.
• Isoquants are negatively sloped indicating Law of Diminishing Marginal Technical Substitution, or in other words as the employment of one factor/input increase,the employment of other will decrease implying a trade off between the two.
• Isoquants are convex to the origin.