A production isoquant shows the various combinations
A) of two factors of production that can produce the same amount of output of a good.
B) of two factors of production that can be hired by a firm for the same cost.
C) of two goods that can be produced by the firm with the same quantity of the factors of Production.
D) of two goods that bring an equivalent satisfaction level to an individual consumer.

Question

Quizplus · Accepted Answer

A production isoquant shows the different combinations of two factors of production, such as labor and capital, that can produce the same amount of output of a good. It represents the different input combinations that can be used to achieve a particular level of output.

A Production Isoquant Shows the Various Combinations