A production isoquant identifies _____.
A)the maximum output possible,given a fixed budget
B)the different combinations of goods that can be produced,given fixed amounts of inputs
C)the different combinations of inputs that can be used to produce a fixed rate of output
D)the cost of producing a given output

Question

Quizplus · Accepted Answer

A production isoquant shows the different combinations or levels of input factors (such as labor, capital, and resources) that can be used to produce a fixed quantity of output. Therefore, option C is the correct choice. Options A and D are incorrect because isoquants do not directly provide information about costs or budgets. Option B is also incorrect because isoquants are not related to the production of different goods, but rather the production of a fixed quantity of output.

A Production Isoquant Identifies _____