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What is Isoquants?

by Puja

The term “iso-quants” is derived from Greek word iso means “equal” and quants means “quantity”. In other words, isoquant means equal quantity. An isoquants is also known as iso-production curve, iso-indifference, equal production curve by various economists. Similarly, Iso-quant is defined as “a locus of all the combination of two factors of production that yields that yield the same level of output.”

Firstly, an iso-quant is a combination of any two factor inputs that represents and produce the same level of output. Similarly, any two combinations of input factors for instance, labour and capital are used in which one factor is increased by decreasing the other factor of input to maintain the same level of production.

Above all, Iso-quant can be explained with the schedule and graph given below:

 In other words factor combinations to produce a given level of output

Factor combinationLabourCapitalOutput

The above table shows the five combination of inputs for instance, labour and Factor unit which yield the same level of output of 500 units. Similarly any point on the iso-quant will give the same level of output.

In addition to show this we draw the iso-quant drawn below:

Iso-quant map:

Firstly, an iso-quant map represents a set of iso-quant curves shows the combination of input factor at the various level of output. Similarly a higher level of iso-quant represents the higher level of output. Thus, in other word, iso-quant map is a family of iso-quant representing the various iso-quant curve at a particular level of output. Similarly, the iso-quant map can be represented with the diagram given below:

The fig above shows firstly the various iso-quants representing the various level of output at different combination of input factors. Likewise IQ1 , IQ2 and IQ3 shows the iso-quant which produces 100,200 and 300 units of output respectively with the various combination of input factors which provides the same level of output at different level of Iso-quant. Above all we had said higher the Iso-quant represents higher the value of output.

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