34. An iso-quant gives: Combinations of output that can be produced using different levels of inputs b. Combinations of inputs that can produce a constant level of ouiput C. Combination of out puts that can be produced with a given level of ituis d. None of the above is correct
34. An iso-quant gives: Combinations of output that can be produced using different levels of inputs b. Combinations of inputs that can produce a constant level of ouiput C. Combination of out puts that can be produced with a given level of ituis d. None of the above is correct
Chapter6: Proudction Costs
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Transcribed Image Text:34. An iso-quant gives:
Combinations of output that can be produced using different levels of inputs
b. Combinations of inputs that can produce a constant level of ouiput
C. Combination of out puts that can be produced with a given level of ituis
d. None of the above is correct
Expert Solution
Step 1
A graphical representation of all the possible combinations of two or more inputs that would give the same amount of output is called the iso-quant curve.
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