An isoquant is ________________.
A. least cost combination of inputs.
B. combination that gives rise to same level of output, provided the firm is minimizing production cost.
C. locus of input combinations of factor inputs which firm can buy with a given outlay and factor prices.
D. . factors unchanged
Answer:B
An isoquant is ________________.
A. least cost combination of inputs. B. combination that gives rise to same level of output, provided the firm is minimizing production cost. C. locus of input combinations of factor inputs which firm can buy with a given outlay and factor prices. D. . factors unchanged