What is constant along an isoquant?
Level of output
The correct answer is option 4. An isoquant represents all combinations of two inputs that produce the same level of output; hence, the output level remains constant along an isoquant.
During the first stage of a total product curve, the total product is ______
The full form of the self-employment programme REGP is _______.
| (i) Stage-I | (a) Total product declines, Marginal product is negative |
| (ii) Stage-II | (b) Total product increases at an increasing rate, marginal product positive |
| (iii) Stage-III | (c) Total product increases at a diminishing rate, marginal product is zero. |