An isoquant is a line that
A)illustrates firm demand for an input.
B)shows different combinations of two goods that yield the same utility.
C)shows different combinations of two inputs that yield the same output.
D)shows a firm's preferences.
E)shows different combinations of two inputs that cost the same.

Question

Quizplus · Accepted Answer

An isoquant, also known as an iso-product curve, shows different combinations of two inputs that will produce the same level of output. This means that if a firm wants to produce a specific amount of output, it can use different combinations of inputs.

An Isoquant Is a Line That