Question
In economic terminology, Isoquants denote
Solution
An isoquant is a curve showing all possible combinations of inputs (like labor and capital) that yield the same level of output. Thus, it represents the input-output relationship (2), the technical possibilities for production (1), and the various technical combinations to produce a specific output level (3).
More ESI Previous Year Papers Questions
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
13.232 + 19.98% of 549.99 = ? × 8.99
5555.05 + 500.05 + 5000.005 + 5.005 =?
49.99% of 539.99 + 263.98% of 49.99 = ?% of 1608.01
?% of (144.31 ÷ 17.97 × 60.011) = 239.98
362, 452, 550, 656, 770, 892, ?
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
? 3 + 95.06 X 39.87 ÷ 5.03 = 1271.89
What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)...
1199.98 ÷ 40.48 × 20.12 = ? × 3.16
