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why is the following a good answer to similarites of isoquant (an isoproduct contour) and indifference curve? An isoquant is similar to an indifference curve
why is the following a good answer to similarites of isoquant (an isoproduct contour) and indifference curve? An isoquant is similar to an indifference curve in several ways. A isoquant shows multiple different combinations of inputs that can produce outputs, this giving us multiple combinations giving the bestt quality products overall. When eliminating a product it does not always mean things may decrease or show a loss of production, because there may be another input for the products to increase more. The indiffernce curve is very similar to the isoquant, the indiffernce curve shows all combinations of all the goods, both compare the good of a product overall
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