State the difference between indifference curve and isoquant, Microeconomics

Assignment Help:

What is the difference between indifference curve and isoquants? 

An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Indifference curve shows behavior of a consumer in consumption. An isoquant shows dissimilar combinations of factors of production which a firm can employ. Isoquant shows behavior of a firm in production.   

 


Related Discussions:- State the difference between indifference curve and isoquant

Firms in a competitive markets, illustrate a long-run equilbrium using diag...

illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine

International econonics, Strictly give the diff. btw the theory of reciproc...

Strictly give the diff. btw the theory of reciprocal demand & theory of comparative advantage

Garrisons capital-based macroeconomics, Consider an economy with high innov...

Consider an economy with high innovative potential, but where saving is insufficient to fund innovative investments. Use Garrison's capital-based macroeconomics to explain how more

Hi, I have an assignment need to be done

I have an assignment need to be done

Inflation and unemployment, Inflation And Unemployment: Inflation desc...

Inflation And Unemployment: Inflation describes a persistent and an appreciable increase in the general price level. The inflation rate is measured as a percentage change in a

Achievements of bretton woods instittutions, ACHIEVEMENTS OF BRETTON WOODS ...

ACHIEVEMENTS OF BRETTON WOODS INSTITTUTIONS: Some of the important achievements of the BW Institutions can be summarised as follows: 1) International reserves have increa

Define the term entrepreneurship, Define the term Entrepreneurship Ent...

Define the term Entrepreneurship Entrepreneurship :   An entrepreneur is an individual who takes risks and organises the factors of production to make a product and therefore

Due diligence, Due Diligence The investigative procedure an investor s...

Due Diligence The investigative procedure an investor should conduct into the operations and business strategy assumptions of an organization soliciting investors.

Markets, The market structure in the south African mobile telecommunication...

The market structure in the south African mobile telecommunications industry

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