isoquant

English - Turkish

Definition of isoquant in English Turkish dictionary

(Ekonomi) Eşürün

Related Terms

isoquant curve

(Ekonomi) Eşürün eğrisi: belirli miktardaki üretimin gerçekleşmesi için gerekli iki girdinin (emek ve sermaye) olabilecek bileşenlerini gösteren eğriye verilen addır. Eğri üzerinde kalındığı takdirde, emek ve sermaye girdilerinin farklı bileşimleri ile hep aynı miktar üretim sağlanacaktır

English - English

Definition of isoquant in English English dictionary

A line of equal or constant economic production on a graph, chart or map

a curve showing various technically efficient combinations of inputs that give the same amount of output (p 296)

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 graphs, showing the tradeoff between capital and labor in the production function, and the decreasing marginal returns of both inputs. Adding one input while holding the other constant eventually leads to decreasing marginal output, and this is reflected in the shape of the isoquant. A family of isoquants can be represented by an isoquant map, a graph combining a number of isoquants, each representing a different quantity of output

Same as Contour