Attempts: Average: 13 4. Understanding the properties of isoquants Aa Aa An isoq

Question

Attempts: Average: 13 4. Understanding the properties of isoquants Aa Aa An isoquant is a curve showing all combinations of labor and capital that can produce the same quantity of output. This question will help you understand various properties of isoquants Using the information provided on the following graph, identify each statement in the table as either True or False LABOR q2 CAPITAL Statement True or False It's possible that point A can produce just as much output as point F. The quantity of output produced at point F must be greater than that at point E. The slope of the line tangent to the isoquant at point B is flatter than that at point F QNA 3.16 © 2004-2016 Aplia. All rights reserved. Graphs Tool 1.55 © 2002-2013 Cengage Learning, All rights reserved. © 2013 Cengage Learning except as noted. All rights reserved Grade It Now Save & Continue Continue without saving

Explanation / Answer

1.
False
Point A and point F are on a different isoquant curve, so output level will be different and cannot be same.

2.
True
Point F is at the Isoquant curve that is rightward to the isoquant curve having point E. So, output level at F will be greater than the output level at E.

3.
True
It is the case of different fixed proportion production process where a fixed input combination will give an output, and it will vary at different points on one isoquant curve.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.