… a core term used in Economic Analysis and Atlas102
Investopedia (reference below) defines the isoquant curve as a graph of all possible combinations of inputs that result in the production of a given level of output.
Investopedia goes on to say:
“Used in the study of microeconomics to measure the influence of inputs on the level of production or output that can be achieved.
“In Latin, “iso” means equal and “quant” refers to quantity. This translates to “equal quantity”. The isoquant curve helps firms to adjust their inputs to maximize output and profits. At some point, the returns of adding another worker or piece of equipment will start to hurt output.”
Atlas topic, subject, and course
Producer Theory and Competition (core topic) in Economic Analysis and Atlas102 Economic Analysis.
Investopedia, Isoquant Curve, at http://www.investopedia.com/terms/i/isoquantcurve.asp, accessed 19 May 2016.
Page created by: Ian Clark, last modified 19 May 2016.