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Question

The iso quant technique is applicable to ____________.


A
Agriculture
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B
Manufacture
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C
Both (A) and (B)
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D
None of these
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Solution

The correct option is C Both (A) and (B)
The two factors usually measured on the isoquant curve are capital and labour, they are the basic factors of production that can be applied to any production activity. Thus the isoquant is helpful in identifying the optimal mix of resources to achieve efficiency in any industry.

Economics

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