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Q. Explain about Concave Isoquant?
If the isoquant is concave to origin it would mean that marginal rate of technical substitution is increasing. This behaviour is explained in Figure.
Figure: Concave Isoquant
It is apparent from the Figure that as labour is increased at a constant rate, amount of capital given up (ΔK) goes on increasing. Such behaviour is irrational and so isoquants aren't concave to the origin.
Consider a magnetic disk consisting of 16 heads and 400 cylinders. This disk is divided into four 100-cylinder zones with the cylinders in different zones containing 160, 200, 240,
Discuss the applications of Managerial economics concepts or theories in managerial decision making question..
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plz help tomorrow is my paper n I need help to understand this topic
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