Answer to Question #293109 in Macroeconomics for Nalyn

Question

Discuss the properties of isoquant curves.

Answer 1

An isoquant curve is a concave line plotted on a graph that shows the various combinations of two inputs that give the same level of output.

The following are the characteristics it depicts;

1. The slope downwards from left to right.

2. They can not intersect each other.

3. They are convex to the origin.

4. They are oval-shaped

5. The higher and more to the right an isoquant is on a graph, the higher the level of output it represents.