alleryStart learning →Under declining MRTS, an isoquant is what relative to the origin?
AConcave to it
BConvex to it
CA straight line
DVertical to it
Answer & Solution
Correct answer: B. Convex to it
A declining marginal rate of technical substitution makes the curve bend inward, convex to the origin.
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Related questions
With fixed unit input costs, isocost curves have which shape?Widening gaps between isoquants of equal output steps indicate what?A line joining tangency points of isoquants and isocosts is called what?At least cost, the ratio of marginal products equals which ratio?The cost-minimising input mix is at tangency of isoquant and which line?With perfect complements, inputs can be combined efficiently only how?If two inputs are perfect substitutes, how does X replace Y?An input mix above and to the right of an isoquant gives what output?