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What are the types of isoquants in microeconomics?

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posted Jul 11 by Amrita

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Linear Isoquant: This type assumes perfect sustainability of factors of production: a given commodity may be produced by using only capital, or only labour, or by an infinite combination of K and L.Input-Output Isoquant: This assumes strict complementary that is, zero substitutability of the factors of production. The isoquant take the shape of a right angle. This type of isoquant is also called 'Leontief isoquant' after Leontief, who invented the input-output ananlysis.Kinked Isoquant: This assmes limited substitutability of K and L.

answer Jul 12 by Prajwal C.m.
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