What do you mean by kinked isoquant, Managerial Economics

Assignment Help:

Q. What do you mean by Kinked Isoquant?

This isoquant presumes only limited substitutability of labour andcapital. There are just a few processes for generating any one commodity.

This is demonstrated in Figure below where A1, A2, A3 and A4 represent the production process and Q is the kinked isoquant. In this case O substitutability of factors is possible only at the kinks.

2386_What do you mean by Kinked Isoquant.png

Fig: Kinked Isoquant

This is more realistic kind of isoquant since managers, engineers and production executives consider the production process as a discrete in place of continuous process.


Related Discussions:- What do you mean by kinked isoquant

Principles, what is the full concept of discounting principles of manageria...

what is the full concept of discounting principles of managerial economics ?

Functions of budget, Functions of the Budget The budget fulfils three ...

Functions of the Budget The budget fulfils three main functions: To raise revenue to meet government expenditure The government of a country provides certain se

Williamsons model of Managerial Discretion., Case studies and research pape...

Case studies and research papers on williamsons model of managerial discretion

Identity economics, McDonalds has been operating in many Asian countries su...

McDonalds has been operating in many Asian countries such as China, Singapore and Japan. However, McDonalds has yet to open its ?rst restaurant in Vietnam, a country with over 80 m

Nature and functions of money , Nature and Functions of Money The concep...

Nature and Functions of Money The concept of money is very difficult to define . it is belongs to the category of things which are not amenable to any single definition. It is p

Availability of substitutes - determinants of demand, Q. Availability of Su...

Q. Availability of Substitutes - Determinants of Demand? One of the most important determinants of elasticity of demand for a commodity is availability of its substitutes. Clos

Annual and monthly premiums charged, Green Shield Insurance gives NEMO Corp...

Green Shield Insurance gives NEMO Corporation with coverage for prescriptions, dental work, and extended health services. Every subscriber uses $435 worth of dental services per ye

Agency problems, agency problems between shareholders and government

agency problems between shareholders and government

Explain about the equilibrium in the labor market, Explain about the equili...

Explain about the equilibrium in the labor market. Equilibrium into the Labor Market: All of firm will hire labor up to the point at that the value of the marginal product o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd