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Isoquants are usually drawn convex to the origin. This convex shape reflects the assumption that

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Isoquants are usually drawn convex to the origin. This convex shape reflects the assumption that

Isoquants are usually drawn convex to the origin. This convex shape reflects the assumption that

▸ the marginal productivity of all factors is positive.

▸ the variable factor is subject to the law of diminishing returns.

▸ both factors are subject to increasing returns.

▸ the marginal productivity of all factors is negative.

▸ both factors are subject to the law of diminishing returns.

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Microeconomics

Edition: 17^th

Author: Ragan

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Brilliant ツ

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