ECON 2X03 Study Guide - Isoquant
Document Summary
Isoquants for courier services all the bundles of hours and time on the 120 kilometer isoquant will produce 120 km of courier services produce 240 km of courier service higher the level of output associated with it all the bundles on the 240 km isoquants will the farther an isoquant is from the origin, the. In (a) where inputs 1 & 2 are perfect substitutes, any bundle on the isoquant will produce 20 kilojoules of heat perfect compliments, any bundle on the isoquant will produce 2 drink o o. Example o quantity if input 1? of the slope of the dashed line ab isoquant at a units at a quantity of input 1 reduces by 5, need to increase quantity of input 2, by 3 units. Perfect compliments (cid:224) substitution is impossible and the mrts cannot be defined for the terms and the mrts is constant o the same bundle at the kink" in the isoquant o o.
