Characteristics of an isoquant:
1. The isoquant is downward sloping from left to right that is, it is negatively sloped.
2. An isoquant is convex to the origin since of the reducing marginal rate of technical replacement. Marginal rate of technical replacement of factor X (i.e., capital) for factor Y (i.e., labor) might be stated as the amount of factor Y (i.e., labor) that can be substituted by one unit of factor X (i.e., capital), the level of output enduring unchanged.
MRTS CL = Δ L/ Δ CMRTS can be computed employing the above formula:
Therefore the marginal rate of technical replacement is always diminishing. Therefore the isoquant is always convex to the origin. The slope of the isoquant symbolizes marginal rate of technical replacement.Higher the isoquant, higher will be the level of output formed. A set of isoquants that symbolizes various levels of output is termed as “isoquant map”. In isoquant map, the isoquants on the right side symbolize higher levels of output and vice-versa.
Figure: Isoquant map
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Production help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Production, project ideas and tutorials. We provide email based Production help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Production. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Production. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Behavioral ecology of African mammals tutorial all along with the key concepts of Proximate causation, Optimization theory, Differential reproductive success and Evolutionarily stable strategies
Introduction to Quantum Chemistry tutorial all along with the key concepts of History of Quantum Mechanics, Electronic structure, Wave model, Valence bond, Molecular orbital, Density functional theory, Chemical dynamics, Adiabatic chemical dynamics
tutorsglobe.com factors governing ionization energy assignment help-homework help by online ionisation potential tutors
tutorsglobe.com turgor pressure assignment help-homework help by online plasmolysis tutors
Conductimetry tutorial all along with the key concepts of Basic Concepts of Conductance Analysis, Conductimetric measurements, Experimental precautions
Fluorescence Spectroscopy tutorial all along with the key concepts of Basic Concept of Molecular Fluorescence, Relationship between Excitation and Fluorescence Spectra, Fluorescence and Structure, Effects of Temperature and Solvent, Effect of Concentration, Instrumentation
Nuclear Models tutorial all along with the key concepts of Nuclear Model: General Requirement, Quantitative Energy Level, Single-Particle Shell Model, Collective Nuclear Model and Unified Model for Deforming Nuclei
Beam Dyeing Machine tutorial all along with the key concepts of Definitions, Batch dyeing, Features of Beam Dyeing Machine, Advantages of Beam Dyeing Machine, Hank dyeing machine, Features of Hank Dyeing Machine
Redox Titrations tutorial all along with the key concepts of Theory of redox titrations, Preparation of KMnO4 solution, Computations by using the half-reaction method, Determination of the Mass of Iron in a Ferrous Solution
pressure tutorial all along with the key concepts of pressure in fluids, pressure due to weight of a liquid column, atmosphere pressure, transmission of pressure in fluids, applications of pascal's principle, measuring pressure, hare's apparatus
tutorsglobe.com constitutional law assignment help-homework help by online humanities tutors
Just calculating a ratio will not tell us deeply about the position or performance of a business.
Solid state Amplifiers tutorial all along with the key concepts of Basic technical principles, Solid state devices, Advantages of Vacuum tubes, Disadvantages Transistors
Dyes tutorial all along with the key concepts of Classification of Dyes, Chromophore and Auxochrome, Dyeing process-based dyes and Production process of Dyes
tutorsglobe.com genetic diseases assignment help-homework help by online modern genetics tutors
1964786
Questions Asked
3689
Tutors
1464418
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!