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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
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Why isoquants convex to the origin?
law of diminishing returns
What is the ridge lines in economics?
ridge lines is the combination of isoquants
Explain the concept of ridge lines in economics?
Ridge lines is a concept in Micro Economics related to Isoquants (which shows different combination of inputs for the same level of output). However, after a certain point Isoquant begins to slope upward, if there are 2 or more isoquants then there would be similar points on the other isoquants too... on joining these points, you get the ridge lines. Note: the point from where Isoquant slopes upward is a point where the marginal product of one of the input is negative.
Why isoquant curve cannot intersect?
By Definition isoquants, like indiffernce curves, can never cut each other. Because if they could, It would be a Logical Contradiction.
Distinguish between indifference curve and isoquants?
indifference curve is a combination of two commodities. where as, isoquant curve shows a relationship between of variable factor i.e. labour and fixed factor i.e. capital.
Why isoquants convex to the origin?
law of diminishing returns
What is the ridge lines in economics?
ridge lines is the combination of isoquants
Why isoquants convex?
diminshing marginal rate of substitution between factors
How producers equilibrium is achieved with isoquant and isocost curves?
producers equilibrium is achieved with isoquants and isocost curves
Explain the concept of ridge lines in economics?
Ridge lines is a concept in Micro Economics related to Isoquants (which shows different combination of inputs for the same level of output). However, after a certain point Isoquant begins to slope upward, if there are 2 or more isoquants then there would be similar points on the other isoquants too... on joining these points, you get the ridge lines. Note: the point from where Isoquant slopes upward is a point where the marginal product of one of the input is negative.
Why isoquant curve cannot intersect?
By Definition isoquants, like indiffernce curves, can never cut each other. Because if they could, It would be a Logical Contradiction.
Distinguish between indifference curve and isoquants?
indifference curve is a combination of two commodities. where as, isoquant curve shows a relationship between of variable factor i.e. labour and fixed factor i.e. capital.
What are properties that change?
the properties that change are physical and chemical properties!!! :)
What is the properties mean in science?
chemical properties and the pysical properties
What are some properties of a matter?
phisical properties and chemical properties
What are properties of chemical properties?
reactivity, flammability, toxicological properties, colouring properties, aptitude for explosion, etc.
What are the properties of special properties?
Special properties are unusual properties a mineral may have that most minerals don't.
