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Q: _____ in economics is a curve that when plotted on a graph shows all the combinations of two factors that produce a given output.
  • A. Isoquant
  • B. Elasticity
  • C. Long run
  • D. Duopoly
Correct Answer: Option A - Isoquant in economics is a curve that when plotted on a graph shows all the combinations of two factors that produces a given output. Elasticity is an economic concept used to measure the change in the aggregate quantity demanded of a goods or service in relation to price movements of that goods or service. Duopoly is a market in which two forms sell a product to a large number of consumers.
A. Isoquant in economics is a curve that when plotted on a graph shows all the combinations of two factors that produces a given output. Elasticity is an economic concept used to measure the change in the aggregate quantity demanded of a goods or service in relation to price movements of that goods or service. Duopoly is a market in which two forms sell a product to a large number of consumers.

Explanations:

Isoquant in economics is a curve that when plotted on a graph shows all the combinations of two factors that produces a given output. Elasticity is an economic concept used to measure the change in the aggregate quantity demanded of a goods or service in relation to price movements of that goods or service. Duopoly is a market in which two forms sell a product to a large number of consumers.