The area lying between the two ridge lines
Answers
Answer:
An isoquant is elliptical or oval-shaped as shown in Fig. 5 but its area of rational operation lies between the ridge lines. ... The ridge lines are the locus of points of isoquants where the marginal products (MP) of factors are zero.
Explanation:
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ISOQUANT
The area lying between the two ridge lines is called an ISOQUANT
EXPLANATION:
* Although an isoquant is circular or oval in form, its reasonable operation region is located between the ridge lines. Only those isoquant segments that are convex to the origin and lie between the ridge lines will be produced by the company.
* The ridge lines are spots on isoquants where the marginal products (MP) of factors are equal to zero. The top ridge line denotes zero capital MP, whereas the lower ridge line denotes zero labor MP.