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!
Q. Explain about Isoquant Map?
We can label isoquants in physical units of output without any difficulty. Because every isoquant signifies a specified level of output it's possible to say by how much the output is lesser or greater on one isoquant than on other. This is elucidated by an isoquant map displayed in Figure below.
Figure: Isoquant Map
It demonstrates that output is 20 units, 40 units and 60 units on isoquants Q1, Q2 and Q3 respectively. So on isoquant Q2 the output is 20 units more than on isoquant Q1; and on isoquant Q3 output is 40 units more than on isoquant Q1. So an isoquant map facilitates not only measurement of the physical quantities of output though also comparison the size of output between various isoquants. Theoretically, an isoquant map comprises an infinite number of isoquants. This is because response of output to infinite changes in factors is presumed to be continuous.
Case study for consumer behavior using indifference curev
Marginal Utility The extra utility derived from the consumption of one more unit of a good, the consumption of all other goods remaining unchanged. The hypothesis of dimin
When Burton Cummings graduated with honors from the Canadian Trucking Academy, his father gave him a $350,000 tractor-trailer rig. Recently, Burton was boasting to some fellow truc
Consider a manufactured good whose production process generates pollution. The annual demand for the good is given by Qd=100-3P. The annual market supply is given by Qs=P. In both
find out the characterstics of national stock exchange
a. A major freeze destroys a large number of orange trees in Florida Ans- Since the freeze destroyed a large number of orange trees in Florida the number of oranges the selle
isoquant and its properties
REGRESSIVE TAX A tax is said to be regressive when its burden falls more heavily on the poor than on the rich. No civilized government imposes a tax like this.
Ask question #MinimumElectron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sen
discuss baumols dynamic models
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