Скачать или смотреть IGNOU BECC 131 Production With Two Variable Input

The unit begins with the concept of Production function which refers to functional relationship between inputs and output. This is followed by the definition of an isoquant and the explanation of three types of isoquant- (i) convex isoquant, (ii) linear isoquant, and (iii) input-output isoquant. The
properties of isoquants are: (i) isoquant are negatively sloped (ii) a higher isoquant represents a larger output, (iii) no two isoquants intersect or touch each other, and (iv) isoquants are convex to the origin. From here we proceed to a discussion of the concept of the economic region of production and ridge lines.

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Demand And Elasticity of Demand
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