Economy, asked by monishakonwar940, 1 year ago

why isoquant curve concave to the origin​

Answers

Answered by Biswaratannoatia
1

MRTS is the rate at which marginal unit of an input can be substituted for another input making the level of output remain the same. ... If they are concave, MRTS of labor for capital increases. But this is not true of isoquants. Since MRTS must diminish, the isoquants must be convex to the origin.

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