Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Curvature of the Iso-quant:
An iso-qunat is convex to the origin. This is so because as more and more units labour are employed, the producer would prefer to give up less and less of the other input to produce the same amount of output. This is shown in the following Figure:
For a rise in L from L1 to L2, the producer gives up K1 amount of K. For the same output level q, as L increases from L3 to L4, she gives up K2 amount of K. As K2 < K1, it implies that for more units of L, the producer is willing to give up less of K. A convex iso-quant implies a diminishing MRTSLK. As MRTSLK = MPi/MPk, a diminishing MRTS means as L increases, L MP decreases and MPK increases.
what is the second best?prove the theorem with the help of a diagram?
Question 1: (a) Describe the three different ways of calculating national income. (b) Does the National Income figure accurately reflect the living standardof a population?
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
#queIn a particular year, an organization earns cash revenues of Rs. 2,00,000. Total material and labour expenses are Rs. 1,09,000. The depreciation claimed on the equipment is Rs.
What is Economics? Economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited wants. In other words, we h
Define why prices is significant for economy Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instanc
International Comparisons Method In the 1960s, a few developing countries of the world looked around the developed world in search of models of development. For instance, Sout
is economics a positive science
what is indifference curve''s theory and application
critically analysis firm theory of profit maximization?
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd