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 Linear Isoquant?
: In this case, isoquant would be straight lines as in Figure below. This type presumes perfect substitutability of factors of production. In this case, capital and labour are perfect substitutes, which is, the rate at which labour can be substituted for capital in production is constant.
Linear Isoquant
This isoquant evinces that a given commodity can be produced by using only capital or only labour or by an infinite combination of and labour and capital. At point A on the isoquant level of output can be produced with capital alone (which means without labour). In the same way, point B indicates that same level of output can be generated with labour alone (which means without any capital). This is unrealistic since labour and capital aren't perfectly substitutable.
arguments in favour of traditional theory of profit maximization
Q. Define Profit maximisation theory? Profit maximisation theory defines that firms (corporations orcompanies) will establish factories where they see potential to achieve the
A hypothetical AD-AS model for Canada During the 1990s, many stock market investors in Canada became optimistic about information technology and bid up stock prices, more t
Explain baumol''s static model
How does economic theory contribute to managerial decisions?
demand definitions
Barriers to entry in pure oligopoly The barriers to entry can be artificial or natural. Artificial Barriers This can be acquired through: State protection throu
Arguments against protectionism Most of the arguments for protectionism may be met with counter arguments, but underlying the economic arguments as opposed to the social, mo
General and Selective Credit Control These are imposed with the full apparatus of the law or informally using specific instructions to banks and other institutions. For insta
In the long run, because of the assumption of free entry and exit of the firms, it's not possible for the firms to make super-normal profits nor it is possible for them to incur lo
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd