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What is the difference between indifference curve and isoquants? 

An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Indifference curve shows behavior of a consumer in consumption. An isoquant shows dissimilar combinations of factors of production which a firm can employ. Isoquant shows behavior of a firm in production.   

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9574918

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