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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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21 November 2009

This day in history:
On 21st November 1974 the Provisional IRA plants bombs in two Birmingham pubs: the Mulberry Bush and the Tavern in the Town. Twenty-one people die and 182 are injured. A few minutes before the explosions a warning had been telephoned to the local newspaper, the Birmingham Post and Mail, but it was far too late. The first Birmingham bomb, at the Mulberry Bush pub in the basement of the Rotunda, a 20-storey office and retail complex and it exploded six minutes after the telephone warning. There was not enough time for police to clear the area. Earlier that year nine soldiers were killed when a bomb exploded on a coach on the M62 near Bradford, while two bombs in Guildford killed four soldiers and injured scores of other people. read more

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