Straight line Isoquant → Perfect substituteģ.
Convex Isoquant (decreasing rate) Good substitutionĢ. Isoquant does not intersect: It is not possible to have different outputs from a single combination of inputs.ġ.
They slope down ward to the right: If more of one is used less of another input will be employed at the given level of output.ģ.
An Isoquant represents the different combinations of two variable inputs used in the production of a given amount of output.ġ.
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