Results for: Isoquant-curve

What is the difference between a production function and an isoquant?

A Production function tells you how much output you can produce for every combination of inputs.  An Isoquant is a curve that shows all possible combinations of input that yi (MORE)

What is an IS curve?

  It is the locus of combinations of the interest rate and the level of real national income for which desired aggregate expenditure equals actual national income.So calle (MORE)

What is an isoquant?

An isoquant (derived from the Greek word 'iso' means 'equal' and 'quant' means 'quantity') is a contour line drawn through the set of points which consist of different combina (MORE)

What are the properties of isoquants?

The further the Isoquant is from the origin, the greater will be the level of output (i.e a higher isoquant represent a higher level of output) Two Isoquants can never inters (MORE)

What are the types of isoquants in microeconomics?

Linear Isoquant: This type assumes perfect substitutability of factors of production: a given commodity may be produced by using only capital, or only labour, or by an infinit (MORE)
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What is isoquant and its properties?

isoquant is the locus of the all the combination of two factorof production that yield the same level of the output
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Does isoquant positive or negative?

An isoquant is a graph showing the same quantity of output for various combinations of inputs. Since these are all measures of quantity, they must all be positive.
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Is isoquant always positively inclined?

Following are the properties of Isoquant Curves,1. Convex to the origin. 2. Slopes downward to the right. 3. Never parallel to the x-axis or y-axis. 4. Never horizontal to the (MORE)
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What curves in?

Lots of different things curve in. Something that curves inwards  can also be called concave, a spoon is an example of something that  is concave. A bowl is also concave and (MORE)