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.
REALISM OF PERFECT COMPETITION The assumptions of perfect competition are obviously at variance with the conditions which actually exist in real world markets. Some market
Explain trend projection method of demand forecasting with illustration.
BU 5210 Final Summer 2013 Economic Analysis
Problem 1: The national budget exercise is nothing more than a political exercise. Discuss. Problem 2: a. What do economists mean by the term ‘efficiency'? b. What
It indicates the amount of output by that long run output of the firm under monopolistic competition falls short of the Ideal output. This is regarded as wastage in monopolistic co
Using the same simple macro model we developed in Module 2: a. Show what will happen to national income (GDP) if the administration implements another $100 (billion) stimulus s
gap between economic theory and business practice
Bikes-for-two, Inc., produces tandem bicycles. Its costs have been analyzed as follows: VARIABLE COST Materials $30/unit Manufacturing labor 3 hours/unit ($8/hour) Assembly labor 1
Q. What do you mean by Market Structure? Market economy pricing is conditioned by market structure. There are various forms of market structures. Perfect competition is accorde
Q. Show the method of production? A process or method of production is a combination of inputs essential for the production of output. A method of production is technically eff
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