Isoquants are the ______ created by the ______.
A) Contour lines; production function
B) Contour lines; efficient production frontier
C) Tangent lines; production function
D) Tangent lines; production possibilities curve

Question

Quizplus · Accepted Answer

Isoquants are the contour lines that represent all the possible combinations of two factors of production that can produce the same level of output. These contour lines are created based on the production function, which is a mathematical representation of the relationship between inputs and outputs in the production process. Therefore, option A is the correct answer. Option B refers to the efficient production frontier, which is a different concept that represents the combination of inputs that result in the maximum output given the resources available. Options C and D refer to tangent lines, which are not related to the concept of isoquants.

Isoquants Are the ______ Created by the ______

Isoquants Are the Created by the