Which of the following is true- a) An isoquant is the set of all possible combinations of the two inputs that yield the same maximum possible level of output. b) Isoquant works on Law of Marginal Rate of Substitution.

Both a and b are true a is true, b is not b is true, a is not Both a and b are false

a is true, b is not

Isoquant works on Law of Marginal Rate of Technical Substitution.