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Agriculture Economics QUESTION #11877
Question 1
For inputs that are perfect substitutes, the isoquants are:
  • Right-angled (L-shaped)
  • Straight lines with a constant slope✔️
  • Convex curves bowed toward the origin
  • Vertical lines only
Correct Answer Explanation
Perfect substitutes produce linear isoquants, since one input can always replace the other at a fixed rate.