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Look up: Isoquant

  1. Isoquant
    A curve showing all the different quantities of capital and labour which may be used to produce a given level of output.
    Found on http://www.pestmanagement.co.uk/lib/glos

  2. Isoquant
    In economics, an `isoquant` (derived from quantity and the Greek word iso [meaning equal]) is a contour line drawn through the set of points at which the same quantity of output is produced while changing the quantities of two or more inputs. While an indifference curve helps to answer the utility-maximizing problem of consumers, the isoquant deals with the cost-minimization problem of producers. Isoquants are typically drawn on capital-labor gra...
    Found on http://en.wikipedia.org/wiki/Isoquant

  3. isoquant
    Given a production function, an isoquant is 'the locus of input combinations that yield the same output level.' (Chiang, p. 360) There is an isoquant set for each possible output level. Mathematically the isoquant is a level curve of the production function. Examples and discussion is at Martin Osborne's web page: http://www.chass.utoronto.ca/~osbo...
    Found on http://www.econterms.com/glossary.cgi?qu

  4. Isoquant
    A curve representing the combinations of factor inputs that yield a given level of output in a production function.
    Found on http://www-personal.umich.edu/~alandear/

  5. Isoquant
    Same as Contour.
    Found on http://glossary.computing.society.inform


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24 November 2009

This day in history:
On Sunday, November 24th, 1991, Freddie Mercury died peacefully at his home in London of AIDS related bronchial pneumonia. Freddie was cremated at Kensal Green Cemetery in accordance with his religion. Many stars from the world or music and showbiz attended the service, including friends Elton John and David Bowie. On April 20th, 1992 a tribute concert in Freddie's memory was held at Wembley Stadium. Tickets to the gig sold out in a matter of hours, even before the full list of bands was available. Many of the worlds most famous rock stars took part in it. This concert was later released on DVD and video for all to enjoy, with the proceeds going to the Mercury Phoenix Trust. read more

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