Show the isoquant touching axis, Managerial Economics

Assignment Help:

Q. Show the Isoquant touching axis?

Isoquants do not intersect: By definition isoquants such as indifference curves, can never cut each other. If they cut each other it will be a logical contradiction. 

Isoquants cannot touch either axis: If an isoquant touches any axis just like in Figure below, it would mean that output can be produced with the help of one factor. It is unrealistic since output can't be produced only by capital or labour alone.

582_Show the Isoquant touching axis.png

Figure: Isoquant touching axis


Related Discussions:- Show the isoquant touching axis

Keynesian theory of consumption function, THE KEYNESIAN THEORY OF CONSUMPTI...

THE KEYNESIAN THEORY OF CONSUMPTION FUNCTION The theory was developed during the Great Depression which plagued Europe and America.  During this time, there was excess capacit

Amount of labor , One lumber producer may locate a plant in the same area....

One lumber producer may locate a plant in the same area.  If it does, there will be more competition for labor and the labor supply function facing Northern will shift to

What is the role of managerial economics in organizations, A. Write a detai...

A. Write a detailed essay on the importance of economics to managers. OR  What is the role of managerial economics in organizations ? B. What are the methods of measuring nation

Per capita income and international comparisons, PER CAPITA INCOME AND INTE...

PER CAPITA INCOME AND INTERNATIONAL COMPARISONS Per capita income figures can also be used to compare the standards of living of different countries. Thus if the per capita in

Term paper, I have a research paper that is due, my schedule is so full tha...

I have a research paper that is due, my schedule is so full that I need assistance due to overload are you interested in the research paper? course - managerial economics TEXT: Man

Define managerial economics according to mcnair and meriam, Define Manageri...

Define Managerial economics according to McNair and Meriam McNair and Meriam:  "Managerial economics comprises the use of economic modes of thought to analyse business situatio

Floating exchange rate system, 1. The price of a U. S. produced hammer is $...

1. The price of a U. S. produced hammer is $5. The exchange rate with Malaysia is 3 Ringgit/1$. What is the current price of the hammer in Malaysia? (Assume no transportation cost.

Annual and monthly premiums charged, Green Shield Insurance gives NEMO Corp...

Green Shield Insurance gives NEMO Corporation with coverage for prescriptions, dental work, and extended health services. Every subscriber uses $435 worth of dental services per ye

What is normative economics, What is Normative economics It is concerne...

What is Normative economics It is concerned with varied corrective measures that a management undertakes under lots of circumstances. It deals with goal determination, goal dev

Massage therapy services, Suppose a given demand curve for massage therapy ...

Suppose a given demand curve for massage therapy services. In the context of giving massage therapy services, list, and explain in detail, 5 different variables that may cause an i

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd