The set of all possible combinations of the two inputs, labour and capital, that yield the same maximum possible level of output is called........... Option 1: Indifference Curves. Option 2: Isocost curve. Option 3: Production Possibility Set. Option 4: Isoquant.

The answer is 'Isoquant.'. View full solution:

CUET Economics - The set of all possible combinations of the two inputs, labour and capital, that yield the same maximum possible level of output is called........... | PYQs + Solutions

CUET Economics 2025 22 May Shift 1

Micro

Easy

Indifference Curves.

Isocost curve.

Production Possibility Set.

Isoquant.

✅ Correct Option: 4

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In which condition, the average cost of a firm declines when output increases?

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Match List-I with List-II

List–I	List–II
(A) A proportional increase in all inputs results in an increase in output by a smaller proportion	(I) Constant returns to scale
(B) A proportional increase in all inputs results in an increase in output by a larger proportion	(II) Law of variable proportions
(C) A proportional increase in all inputs results in an increase in output by the same proportion	(III) Decreasing Returns to Scale
(D) Factor proportions change as long as one factor is held constant and the other factors increases	(IV) Increasing Returns to Scale

Choose the correct answer from the options given below:

CUET Economics 2025 22 May Shift 1 PYQs

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