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MessagePosté le: Ven 14 Oct - 09:27 (2016)    Sujet du message: Least Cost Combination Pdf Free Répondre en citant




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Least Cost Combination Pdf Free, quantum phase transitions sachdev djvu to pdf

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Ideas.....For...the...two...production...inputs...labour...and...capital,...with...fixed...unit...costs...of...the...inputs,...the...equation...of...the...isocost...line...is....403....Forbidden......The....isocost....line....is....combined....with....the....isoquant....map....to....determine....the....optimal....production....point....at....any....given....level....of....output.....A..cost-minimizing..input..bundle..is..a..point..on..the..isoquant..for..the..given..y..that..is..on..the..lowest..possible..isocost..line...Only..if..a..dollar..spent..on..each..input..is..equally..productive..is..the..input..bundle..optimal...The....absolute....value....of....the....slope....of....the....isocost....line,....with....capital....plotted....vertically....and....labour....plotted....horizontally,....equals....the....ratio....of....unit....costs....of....labour....and....capital.....Each...line...segment...is...an...isocost...line...representing...one...particular...level...of...total...input...costs,...denoted...TC...in...the...graph...and...C...in...the...article's...text....In..economics..an..isocost..line..shows..all..combinations..of..inputs..which..cost..the..same..total..amount.[1][2]..Although..similar..to..the..budget..constraint..in..consumer..theory,..the..use..of..the..isocost..line..pertains..to..cost-minimization..in..production,..as..opposed..to..utility-maximization...This....condition....makes....sense:....at....a....particular....input....combination,....if....an....extra....dollar....spent....on....input....1....yields....more....output....than....an....extra....dollar....spent....on....input....2,....then....more....of....input....1....should....be....used....and....less....of....input....2,....and....so....that....input....combination....cannot....be....optimal.....

Home.....403....Forbidden......If...the...y-isoquant...is...smooth...and...convex...to...the...origin...and...the...cost-minimizing...bundle...involves...a...positive...amount...of...each...input,...then...at...a...cost-minimizing...input...bundle...an...isocost...line...is...tangent...to...the...y-isoquant....A..line..joining..tangency..points..of..isoquants..and..isocosts..(with..input..prices..held..constant)..is..called..the..expansion..path.[3]...People....PL....is....the....unit....price....of....labor....(w....in....the....text)....and....PK....is....the....unit....price....of....physical....capital....(r....in....the....text).....So..the..condition..that..the..MRTS..be..equal..to..the..input..cost..ratio..is..equivalent..to..the..condition..that..the..marginal..product..per..dollar..is..equal..for..the..two..inputs...It..is..on..the..y-isoquant..(i.e...

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