Which one of the following properties is not the property of isoquants in terms of inputs and output ?
Due to the diminishing marginal rate of technical substitution (MRTS) between two inputs, standard isoquants are negatively sloped, non-intersecting, and strictly convex to…
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Which one of the following properties is not the property of isoquants in terms of inputs and output ?
Answer and explanation
Correct answer B
Due to the diminishing marginal rate of technical substitution (MRTS) between two inputs, standard isoquants are negatively sloped, non-intersecting, and strictly convex to the origin. Hence, 'Concave to the origin' is not a property of isoquants.
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