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Isoquant

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PPGPortal > Home > Concept Dictionary > I, J > Isoquant
 

Isoquant 

In a two-input model, an isoquant shows the set of all possible combinations of the two inputs that are just sufficient to produce a given amount of output.

(Dwayne Benjamin, Toronto PPG 1002H)

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Isoquants are very similar to indifference curves in consumer theory. The important difference is that isoquants are labeled with the amount of output that they can produce rather than with a utility level. The labeling of isoquants is determined by technological constraints and does not have the kind of arbitrary nature that utility labeling has.

     

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