Word Count : 377

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Isoquants represent different combinations of two inputs, such as labor and capital, that produce the same level of output. Their shape depends on the degree of substitutability between the inputs. If the inputs are perfect substitutes, the isoquants take the form of straight lines with a constant slope, indicating that one input can completely replace the other at a constant rate without affecting output. For example, if labor and capital can substitute each other perfectly, _____ _______ ______ ____ _____ ____ _____.
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