By Definition isoquants, like indiffernce curves, can never cut each other. Because if they could, It would be a Logical Contradiction.
Linear isoquant [perfect substitutability of factors of production], Input-output isoquant or Leontif isoquant [no substitution or strict complementarity; only one efficient method of production] are exceptions to isoquant convexity to the origin. Kinked isoquant is of limited substitutability at kinks. But if kinks come closer and closer, it will become a smooth curve, convex to the origin.
negative slope, convexity to its origin
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
Where the demand curve and supply curve intersect.
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 infinite combination of K and L.Input-Output Isoquant: This assumes strict complementarity[that is, zero substitutability] of the factors of production. The isoquant take the shape of a right angle. This type of isoquant is also called 'Leontief isoquant' after Leontief, who invented the input-output ananlysis.Kinked Isoquant: This assmes limited substitutability of K and L. There are only a few processes for producing any one commodity. Substitutability of factors is possibleonly at the kinks. This form is also called 'activity analysis-isoquant' or 'linear-programming isoquant', because it is basically used in linear programming.Smooth , Convex Isoquant: This form assumes continuous substitutability of K and L only over a certain range, beyond which factors cannot substitute each other. The isoquant appears as a smooth curve convex to the origin.
Linear isoquant [perfect substitutability of factors of production], Input-output isoquant or Leontif isoquant [no substitution or strict complementarity; only one efficient method of production] are exceptions to isoquant convexity to the origin. Kinked isoquant is of limited substitutability at kinks. But if kinks come closer and closer, it will become a smooth curve, convex to the origin.
negative slope, convexity to its origin
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
show how the price elasticity of demand is graphically measured along a liner demand curve?
Tangent to the curve.
Where the demand curve and supply curve intersect.
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 infinite combination of K and L.Input-Output Isoquant: This assumes strict complementarity[that is, zero substitutability] of the factors of production. The isoquant take the shape of a right angle. This type of isoquant is also called 'Leontief isoquant' after Leontief, who invented the input-output ananlysis.Kinked Isoquant: This assmes limited substitutability of K and L. There are only a few processes for producing any one commodity. Substitutability of factors is possibleonly at the kinks. This form is also called 'activity analysis-isoquant' or 'linear-programming isoquant', because it is basically used in linear programming.Smooth , Convex Isoquant: This form assumes continuous substitutability of K and L only over a certain range, beyond which factors cannot substitute each other. The isoquant appears as a smooth curve convex to the origin.
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.
by finding where the supply curve and the demand curve intersect
of average product.
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 x-axis or y-axis. 5. No 2 curves intersect each other. 6. Each iso quant is a part of an oval. 7. It cannot have a positive slope. 8. It cannot be upward sloping. Anonymous
No