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why is following information correct An isoquant is similar to an indifference curve in several ways. They both slope downwards. Neither of them can intersect.
why is following information correct An isoquant is similar to an indifference curve in several ways. They both slope downwards. Neither of them can intersect. They are also both convex. They are also similar by representing some for of production of goods. These curves both show different substitues for different reason. Both curves go from left to right. The indifference curve show prefrence of consumer. The Isoquant shows production of producer. They both represent some form of substitutions. These subittutions come in the form of producers chosen resources of products made or the consumers prefence of product. They both represent different combinations for different groups of people
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