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JAMB Economics 2013 Question 22

Question 22

Theory of Production

An isoquant lying above to the right of another represents

  1. A.a higher output level.
  2. B.constant returns to scale.
  3. C.over-capacity utilization.
  4. D.a lower output level.
Show the answer and explanation

Answer: A (a higher output level.)

Explanation

Isoquants further from the origin use more inputs and show higher output levels.