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Isoquants can be​ convex, linear, or​ L-shaped. What does each of these shapes tell you about the nature of the production​ function? What does each of these shapes tell you about the​ MRTS?Within some​ range, a declining number of units of one input can be substituted for a unit of the other​ input, and output can be maintained at the same level. In this​ case, the MRTS is diminishing as we move down along the isoquant.

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