Isoquant.pptx and also curves and also with graph which explains on economics to scale
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![Isoquant
• Isoquant shows the various combinations of two factors [or inputs], say labour and
capital ,giving same level of output.
• Similar to the indifference curve in the theory of consumer behaviour.
• It shows all the input points required to produce same level of output.
• It represents the combinations of inputs that can produce same quantity of output,
producers will be indifferent between them.
• Also known as production indifference curve or iso-product curve or equal product
curve
Dr. Pooja Singh, Assistant Professor, Department of Economics, School of Arts, Humanities And Social Sciences, Chhatrapati Shahu Ji Maharaj University, Kanpur
Isoquants](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Isoquant.pptx and also curves and also with graph which explains on economics to scale
- 1. z Isoquants
- 2. Isoquant • Isoquant shows the various combinations of two factors [or inputs], say labour and capital ,giving same level of output. • Similar to the indifference curve in the theory of consumer behaviour. • It shows all the input points required to produce same level of output. • It represents the combinations of inputs that can produce same quantity of output, producers will be indifferent between them. • Also known as production indifference curve or iso-product curve or equal product curve Dr. Pooja Singh, Assistant Professor, Department of Economics, School of Arts, Humanities And Social Sciences, Chhatrapati Shahu Ji Maharaj University, Kanpur Isoquants
- 3. Dr. Pooja Singh, Assistant Professor, Department of Economics, School of Arts, Humanities And Social Sciences, Chhatrapati Shahu Ji Maharaj University, Kanpur Isoquants
- 4. Properties of Isoquants 1. An isoquant slopes from left to the right downward or negatively sloping. 2. Higher isoquant represents a higher level output 3. No two isoquants intersect each other. 4. Isoquant curve is convex to the origin. Dr. Pooja Singh, Assistant Professor, Department of Economics, School of Arts, Humanities And Social Sciences, Chhatrapati Shahu Ji Maharaj University, Kanpur Isoquants
- 5. References • Dwivedi D N, Managerial Economics, Vikas Publishing House Pvt. Ltd, 2006 • Samuelson, Paul A; Nordhaus, William D. (2014). Economics. Boston, Mass: Irwin McGraw-Hill Isoquants Dr. Pooja Singh, Assistant Professor, Department of Economics, School of Arts, Humanities And Social Sciences, Chhatrapati Shahu Ji Maharaj University, Kanpur