Indifference curve and isoquant are respectively relevant in ____________
A. Theories of consumer behaviours and production B. Theories of human indifference and production C. Theories of trade and production D. Theories of production and trade
Correct Answer: A
Explanation
Indifference curve is the locus of all commodity combination that yields same level of utility for a consumer while an. isoquant is the locus of all input combination that yield the same level of output for a producer.
