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No.4. (a) Define the following terms (a) Iso-cost Line (b) Expansion Path (c) Isoclines (d) Ridge Line (e) Pseudo Scale Lines (f) Homothetic production function
No.4. (a) Define the following terms (a) Iso-cost Line (b) Expansion Path (c) Isoclines (d) Ridge Line (e) Pseudo Scale Lines (f) Homothetic production function (Marks= 6) Q.No.4. (b) A football producer has available Rs.200. What will be the slope of iso-outlay line when, price of input A=Rs.3 and price of input B=Rs.1.5 (Marks= 2)
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Principles of Microeconomics
Authors: N. Gregory Mankiw
8th edition
1305971493, 978-1305971493
