Isoquants:
The isoquant analysis aids to understand how distinct combinations of two or more factors are employed to generate a given level of output. Considering two factors of production, (i.e., capital and labor) the table shown below exhibits various combinations of capital and labor which help a firm to generate 1000 units of a product.
Table: Production with two variable inputs
From the above table, it is apparent that all combinations with various quantities of labor and capital outcome in similar level of production of 1000 units.
Figure: Isoquant Curve
The two axes evaluate the quantities of labor and capital and the curve IQ exhibits the various combinations which generate 1000 units of output. Each of the points R1, R2, R3, R4 & R5 on the curve exhibits a capital-labor combination which can generate 1000 units of output. Hence the curve is termed as an equivalent product curve or an isoquant curve.
Therefore an isoquant or iso-product curve symbolizes dissimilar combinations of two factors of production which yield similar level of output.
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 Complex Numbers all along with the key concepts of complex numbers, Imaginary number, Equality of Complex Numbers, Complex Conjugates and Graphing Complex Numbers. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Complex Numbers.
atomic absorption spectroscopy tutorial all along with the key concepts of preparation of calibration curve, uses of atomic absorption spectroscopy, determination of concentration of magnesium in tap water
metallurgy tutorial all along with the key concepts of occurrence of metals, beneficiation of ores, froth flotation process, reduction to metals, pyrometallurgy, thermodynamics of reduction process, hydrometallurgy and electrometallurgy
Artificial Satellite and Remote Sensing tutorial all along with the key concepts of orbit of the Earth, Satellites in Circular Orbits, Relationship between Radius and Orbital Speed, Period of Satellite, Orbital Radius of Synchronous Satellites, Remote Sensing, Preliminary Remarks, Data Collection, Processing of Remote Sensing Data
tutorsglobe.com bio-piracy assignment help-homework help by online crop diseases and their control tutors
a multivibrator is other type of relaxation oscillator that uses two amplifier stages, in which the output o one is coupled to the input of another.
tutorsglobe.com construction of ceiling fan assignment help-homework help by online electric fan and electric hair drier tutors
tutorsglobe.com pathogenesis assignment help-homework help by online aids tutors
tutorsglobe.com pathogenesis assignment help-homework help by online candida albicans tutors
tutorsglobe.com importance of senescence assignment help-homework help by online senescence tutors
www.tutorsglobe.com offers time wage system homework help, assignment help, case study, writing homework help, online tutoring assistance by accounting tutors.
tutorsglobe.com mini hydel generation assignment help-homework help by online energy crisis tutors
Transcription tutorial all along with the key concepts of Biosynthesis of RNA, DNA as Template for RNA Transcription, Transcription in Eucaryotes, Post-Transcriptional Processing of RNA, Differences between RNA-DNA
tutorsglobe.com natural resources assignment help-homework help by online environmental biology tutors
Introduction to Coordination Chemistry tutorial all along with the key concepts of Werner's Coordination Theory, Classification of Coordination Compounds, Monodentate ligands, Bidentate ligands, Polydentate ligands, Radioactivity, Features of Radioactivity and Types of Radiation
1950619
Questions Asked
3689
Tutors
1464186
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!