Lesson 4 of 11 • 7 upvotes • 10:23mins
This lesson explains the concept of isoquants. Here, some important concepts are also discussed. They are- Fixed and variable input and short run and long run.
11 lessons • 1h 48m
Course Overview
5:22mins
Introduction
8:34mins
Production Function
10:16mins
Isoquant
10:23mins
Total, Average and Marginal Product
10:29mins
Law of diminishing marginal product and law of variable proportion
11:56mins
Total, Average and Marginal Product curves
10:13mins
Returns to scale
8:23mins
Costs
8:52mins
Short run cost curves
12:41mins
Long run costs
11:26mins