In the case of two production-inputs. which one of the following is not a property of Isoquants (the production indifference curves)? 

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UGC NET Paper 2: Commerce 14 Oct 2022 Shift 1
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  1. Negative slope 
  2. Concave to the point of origin 
  3. Non-intersecting and non-tangential
  4. Upper isoquants represent higher level of output 

Answer (Detailed Solution Below)

Option 2 : Concave to the point of origin 
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UGC NET Paper 1: Held on 21st August 2024 Shift 1
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Detailed Solution

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Key points

Isoquant:

  • A firm's equivalent of the consumer indifference curve is called an isoquant.
  • An isoquant is a curve that displays all the input configurations that result in the same output level.
  • The isoquant curve is also known as an “Equal Product Curve” or “Production Indifference Curve” or Iso-Product Curve.”

Important Points

Properties of isoquant

  • Isoquant-product curves slope downward from left to right i.e., it has negative slope.
  • Isoquants are convex to the origin
  • Two isoquant-product curves never cut each other
  • Upper isoquant-product curves represent higher level of output
  • Isoquants need not be parallel to each other
  • No isoquant can touch either axis
  •  Each isoquant is oval-shaped

Hence, 'Concave to the point of origin' is not a property of Isoquant.

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