An production indifference curve is the set of bundles that most efficiently produce the same output given a production function.

Name: An production indifference curve is the set of bundles that most efficiently produce the same output given a production function.
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Question

Quizplus · Accepted Answer

A production indifference curve does not exist; the correct term is an isoquant, which represents combinations of inputs that produce the same level of output in a production process.

An Production Indifference Curve Is the Set of Bundles That