Question

Sketch an isoquant map, such that Q1 < Q2 < Q3. Explain why isoquants cannot intersect.

Sketch an isoquant map, such that Q1 < Q2 < Q3. Explain why isoquants cannot intersect.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

an isoquant shows different combination of input factors that produce the same level of output.

as isoquants get higher they represent higher level of output. as shown in the figure.

2 different isoquants on the same plane represent 2 different levels of output. thus 2 isoquants do not intersect, because if they do that will mean that 2 different isoquants represent same level of output which can never be true. along an entire isoquant output remains the same for various combinations of X AND Y

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Let Q1, Q2, Q3 be constants so that (Q1, Q2) is the critical point of the...
Let Q1, Q2, Q3 be constants so that (Q1, Q2) is the critical point of the function f(x, y) = xy + y − x, and Q3 = 1 if f has a local minimum at (Q1, Q2), Q3 = 2 if f has a local maximum at (Q1, Q2), Q3 = 3 if f has a saddle point at (Q1, Q2), and Q3 = 4 otherwise. Let Q = ln(3 + |Q1| + 2|Q2| + 3|Q3|). Then T =...
Let Q1, Q2, Q3 be constants so that (Q1, Q2) is the critical point of the...
Let Q1, Q2, Q3 be constants so that (Q1, Q2) is the critical point of the function f(x, y) = xy − 5x − 5y + 25, and Q3 = 1 if f has a local minimum at (Q1, Q2), Q3 = 2 if f has a local maximum at (Q1, Q2), Q3 = 3 if f has a saddle point at (Q1, Q2), and Q3 = 4 otherwise. Let Q = ln(3 + |Q1| + 2|Q2| + 3|Q3|). Then...
Explain why indifference curves cannot intersect.
Explain why indifference curves cannot intersect.
What does isoquant show? Explain (fully) why isoquants are convex to the origin of the graph....
What does isoquant show? Explain (fully) why isoquants are convex to the origin of the graph. Suppose that a firm increases all of its inputs by 25% and, as a result, the firm’s output produced increases by 20%. Calculate the firm’s returns to scale elasticity. What type of returns to scale does the firm have in this range of production? Explain.
Three charges, Q1, Q2, and Q3 are located in a straight line. The position of Q2...
Three charges, Q1, Q2, and Q3 are located in a straight line. The position of Q2 is 0.268 m to the right of Q1. Q3 is located 0.125 m to the right of Q2.    1) In the above problem, Q1=2.24*10^-6 C, Q2= -2.84*10^-6 C, and Q3=3.03*10^-6 C. Calculate the total force on Q2. Give with the plus sign for a force directed to the right.    2)Now the charges Q1=2.24*10^-6 C and Q2= -2.84*10^-6 C are fixed at their...
Three charges: Q1, Q2 and Q3, are located on a straight line. The charge Q3 =...
Three charges: Q1, Q2 and Q3, are located on a straight line. The charge Q3 = 6.75 ?C is movable along this line. The charges Q1 = -8.75 ?C and Q2 = 2.80 ?C are fixed at their positions, with Q2 at the distance d = .436 m to the right of Q1. For what position of Q3 (with respect to Q1) is the net force on Q3 - due to Q1 and Q2 - equal zero? Convention: use the...
Explain why well-behaved indifference curves cannot intersect.
Explain why well-behaved indifference curves cannot intersect.
Explain why well-behaved indifference curves cannot intersect.
Explain why well-behaved indifference curves cannot intersect.
Three charges, Q1, Q2, and Q3 are located along a straight line. The position of Q2...
Three charges, Q1, Q2, and Q3 are located along a straight line. The position of Q2 is 0.235 m to the right of Q1. Q3 is located 0.147 m to the right of Q2. The force on Q2 due to its interaction with Q3 is directed to the (Give ALL correct answers, i.e., B, AC, BCD...) A) right if the two charges are negative. B) left if the two charges are positive. C) right if the two charges have opposite...
The figure shows three charges q1, q2 and q3 situated at corners of a rectangle of...
The figure shows three charges q1, q2 and q3 situated at corners of a rectangle of sides a = 15.0 cm and b = 7.0 cm. 1) For q1 = 5.80 μC, q2 = -5.80 μC, and q3 = 2.30 μC find the electric potential at the center of the rectangle. 2) Continuing with the figure above, how much of the electric energy of the system would be expended in moving q3 to infinity while q1 and q2 remain in...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT