Glossary of economics research
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isoquant:
Given a production function, an isoquant is "the locus of input
combinations that yield the same output level." (Chiang, p. 360) There is an
isoquant set for each possible output level. Mathematically the isoquant is a
level curve of the production function.
Examples and discussion is at Martin Osborne's web page:
http://www.chass.utoronto.ca/~osborne/2x3/tutorial/ISOQUANT.HTM.
Source: Chiang, 1984
Contexts: production theory; micro
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