Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
It is presumed that every of the different combinations of capital and labour displayed in Table produces the same level of output, which is, 20 units. Combinations are such that if one factor is increased other factor is decreased or vice versa. All these combinations are technically efficient.
Table: Various Combinations of Labour and Capital to Produce 20 Units of Output
Factor Combination
Labour
Capital
A
1
15
B
2
11
C
3
8
D
4
6
If we plot all these combinations as well as join them we get a curve Q. This is displayed in Figure below.
Figure: Isoquant or Equal Product Curve
Curve Q is the isoquant or equal product curve. It displays all those combinations of capital and labour that, with a given technology, produce 20 units of output. So an isoquant is locus of all those sublimations of capital andlabour that yield the same level of output. Or we can say that an isoquant comprises all the technically efficient methods of producing a given level of output.
Limits on the process of bank deposit creation On the demand side , there may be a lack of demand for loans, or at least of borrowers who are sufficiently credit worthy .
THE MONETARY ACCOUNT Also called official financing, this comprises the financial transactions of the government (handled by the central bank) needed to offset any net outflow
Definition of Elasticity Is defined as the ratio of the relative change of one (dependent) variable to changes in another (independent) variable, or it's a percentage change o
what are the objectives of a firm
Limitations of Uneven Distribution of Income and Wealth Unlike the historical experience of the now developed countries, the rich in contemporary Third World Countries are not
Q. Explain about isocost line? In economics, an isocost line signifies all combinations of inputs that cost the same total amount. Though, similar to the budget constraint in c
Q. Describe Managerial and behavioural theories? It was only in 1960s that neo-classical theory of firm was disputed by alternatives like behavioural and managerial theories. M
if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function
Market demand and consumers surplus Suppose that the market price of a cup of coffee is K£4 but the consumer was willing to pay £9 for the first unit, £8 for the second, £7 fo
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd