Illustrate isoquants having positively sloped segments. In the same diagram construct ridge lines and explain the concept of Economic Region of Production.

Isoquants with Positively Sloped Segments:

An isoquant is a graphical representation of all possible combinations of two inputs (usually labor and capital) that can produce a specific level of output. In a standard isoquant diagram, the slope of the isoquant represents the marginal rate of technical substitution (MRTS), which indicates the rate at which one input can be substituted for the other while keeping the output constant.

In most cases, isoquants have a negatively sloped convex shape, indicating diminishing marginal rate of technical substitution. However, in certain situations, isoquants can have positively sloped segments. This occurs when the MRTS changes along the isoquant due to changes in the production process, technology, or input ___ ____ _____ _____ _______ _______ ________ _____ _______ ______ __________ _________.
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