For the production function $Q = a K + b L$, where the variables are graphed as usual, the equation for a typical isoquant is $K = \frac { Q - b L } { a }$.

Question

Quizplus · Accepted Answer

An isoquant represents all combinations of capital (K) and labor (L) that produce the same level of output (Q). The given equation rearranges the production function $Q = aK + bL$ to solve for K in terms of Q and L, showing how K must adjust to maintain a constant Q as L changes, which is the definition of an isoquant.

For the Production Function Q=aK+bLQ = a K + b LQ=aK+bL

For the Production Function $Q = a K + b L$