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.
Theory and lecture notes of Church-Turing Thesis all along with the key concepts of the church-turing thesis, Turing Machines, Effective calculability, Canonical systems, Recursive functions, Markov algorithms. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Church-Turing Thesis.
The electromagnetic spectrum tutorial all along with the key concepts of Range of the spectrum, Interaction of electromagnetic Radiation with Matter, Types of radiation, Nature of Light and Quantum Theory
The transverse part of the dicot root (Bean) displays the following plan of arrangement of tissues from the periphery to the centre.
tutorial all along with the key concepts of definition to the gravity methods, instrumentation, data acquisition, data processing, data analysis and interpretation, micro-gravity monitoring
Growth and Development in Plants tutorial all along with the key concepts of Phases of Growth, Phase of Cell Division, Phase of Cell Enlargement, Phase of Cell Differentiation, Factors Affecting Growth.
www.tutorsglobe.com offers stoichiometry chemistry homework help, stoichiometry chemistry assignment help, online tutoring assistance, physical chemistry solutions by online qualified chemistry tutor's help.
theory and lecture notes of concept of equivalence of tms, pms and markov algorithms all along with the key concepts of post machines or tag machines, post machine simulates the tm. tutorsglobe offers homework help, assignment help and tutor’s assistance on concept of equivalence of tms, pms.
the annealed copper conductors generally in round shape are employed for winding small and medium capacity electrical machines.
Chemical and Physical Instrumentation tutorial all along with the key concepts of About instrumentation, Remote sensing technique, laboratory equipments, Instrumentation for field observations, data collection
tutorsglobe.com process of pulmonary respiration assignment help-homework help by online respiration tutors
Measurement of water quality tutorial all along with the key concepts of Collection of Water Samples, Sampling of Rivers, Determination of water quality and Factors which Affect Water Quality
tutorsglobe.com flower-a metamorphosed shoot assignment help-homework help by online flowers fruits and seeds tutors
the magnetic field tutorial all along with the key concepts of fields due to magnets, electric field to define magnetic field, field due to currents, force on a current in a magnetic field, magnetic flux density, torque on a rectangular coil and biot-savart law
tutorsglobe.com sterile stamen assignment help-homework help by online flower-a metamorphosed shoot tutors
avail complete support and get rid of all problems by hiring apt data communication assignment help tutors with 24x7 support at low prices.
1948096
Questions Asked
3689
Tutors
1440289
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!