Economics · Production Theory (Isoquants)
If two factors of production can only be used in a fixed ratio, the isoquant will be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1L-shaped (concave to the origin)✓
- 2Hyperbolic
- 3A straight line
- 4A point
Correct answer
L-shaped (concave to the origin)
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