explain the types of microeconomics
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 intersect each other Isoquants always slopes downward
law of diminishing returns
ridge lines is the combination of isoquants
Who is the father of microeconomics?
explain the types of microeconomics
macroeconomics and microeconomics
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 intersect each other Isoquants always slopes downward
law of diminishing returns
Who is the father of microeconomics?
Advantages of microeconomics ?
ridge lines is the combination of isoquants
diminshing marginal rate of substitution between factors
what are the microeconomics problems in philippines
Microeconomics refers to a small, localized economy.
microeconomics im not sure why
difference in methodology for microeconomics and macroeconomics?