Economics · Production Theory
Match List-I (Isoquant property) with List-II (Explanation): List-I A. MRTSKL along an isoquant equals MPL/MPK B. Isoquants bow inward (convex to origin) C. Isoquants cannot intersect D. Ridge lines List-II I. Locus of points where one input has zero marginal product; bounds the economic region of production II. Would imply the same input combination yields two different output levels, violating consistency III. The rate at which capital is substituted for labour, keeping output constant IV. Diminishing MRTS: as more labour is substituted for capital, less capital needs to be sacrificed per additional unit of labour Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-III, B-I, C-II, D-IV
- 2A-II, B-I, C-IV, D-III
- 3A-IV, B-III, C-I, D-II
- 4A-III, B-IV, C-II, D-I✓
Correct answer
A-III, B-IV, C-II, D-I
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