Isoquants,IsocostsandCostMinimizationOverheads课件.ppt,Properties of Isoquants Isoquants are convex to the origin This means that as we use more and more of an input, its marginal value in terms of the substituting for the other input becomes less and le
PropertiesofIsoquants Isoquantsareconvextotheorigin Thismeansthatasweusemore and more of an input, its marginal value in terms of the substituting for the other input becomes less and less Higher isoquants represent greater levels of production Slope of isoquants The slope of an isoquant is call...