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

Characteristics of the three stages of diminishing returns, CHARACTERISTICS...

CHARACTERISTICS OF THE THREE STAGES Stage I Here the Total Physical Product, Average Physical Product and Marginal Physical Product are all increasing. However MPP

Review, # review of Article what can economic theory contribute to manageri...

# review of Article what can economic theory contribute to managerial economic#

Derevatives ., how to solve problems using derivatives ?

how to solve problems using derivatives ?

Explain about long run production function, Q. Explain about Long run produ...

Q. Explain about Long run production function? Long run is a phase adequately long so that all factors together with capital can be changed. The factors that can be increase

#Demand function.., Calculate point elasticity of demand for demand functio...

Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs. 3 to 2

Calculate the equilibrium level of national income, Question: EITHER ...

Question: EITHER Nowadays, there is an urgency in Mauritius to introduce a rapid transit system in order to reduce traffic congestion and shift towards a more efficient mode

Define thevariable factor of production, Define theVariable factor of produ...

Define theVariable factor of production The input level of a variable factor of production can be diverse in the short run. Raw material inputs are believed as variable fact

Microeconomic objectives of government, The Microeconomic objectives of gov...

The Microeconomic objectives of government These are the policies which are concerned with the allocation and distribution of resources to maximize social welfare. 1. Allo

Revenue, definition of total revenue,marginal revenue,average revenue

definition of total revenue,marginal revenue,average revenue

Estimating economic relationships, Estimating economic relationships M...

Estimating economic relationships Managerial economics estimates economic relationships between various business factors likeelasticity of demand, income, profit analysis, cos

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages