An isoquant is the locus of the different combinations of inputs ...

[ts19998]

An isoquant is the locus of the different combinations of inputs that produce the same level of output.
  Indicate whether the statement is true or false

Question 2

A firm's economic profit is the difference between its total revenue and total costs, including the opportunity costs of the resources used in the business.
 a. True
  b. False
  Indicate whether the statement is true or false

[Hikerman221]

Answer to Question 1

T

Answer to Question 2

True