Archive | Iso-Quant Curve

The below mentioned article provides short notes on Iso-Cost Curves and Expansion Path. Having studied the nature of isoquants which represent the output possibilities of a firm from a given combination of two inputs, we pass on to the prices of the inputs as represented on the isoquant map by the iso-cost curves. These curves are also known as outlay [...]

Iso-Quant Curve: Definitions, Assumptions and Properties! The term Iso-quant or Iso-product is composed of two words, Iso = equal, quant = quantity or product = output. Thus it means equal quantity or equal product. Different factors are needed to produce a good. These factors may be substituted for one another. A given quantity of output may be produced with different [...]