Had a doubt in the concept of Ridge lines, where the efficient area of substitution is the area between MPK=0 and MPL=0 However soon as the Isoquant curves increase. MPk and MPL become zero at later points/units (of K&L) as compared to the points in the preceding Isoquant curves. For example in IQ 1 the MPK=0 was at 10th Unit of Capital,but in the next IQ i.e IQ2 the MPK=0 occurs at 12th Unit of Capital and so on. Same is the case with MPL Can you state the reason behind it ? The only rational reason I found that if you Increase Labour even if we Keep Capital Constant, The MPK of Capital also increases.
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Had a doubt in the concept of Ridge lines, where the efficient area of substitution is the area between MPK=0 and MPL=0
However soon as the Isoquant curves increase. MPk and MPL become zero at later points/units (of K&L) as compared to the points in the preceding Isoquant curves.
For example in IQ 1 the MPK=0 was at 10th Unit of Capital,but in the next IQ i.e IQ2 the MPK=0 occurs at 12th Unit of Capital and so on. Same is the case with MPL
Can you state the reason behind it ?
The only rational reason I found that if you Increase Labour even if we Keep Capital Constant, The MPK of Capital also increases.
Hi,
We'll be happy to solve your doubts and queries.
Download the Ecoholics app for FREE doubt-solving facilities and full LIVE courses on UGC-NET, Economics optional for UPSC, Indian Economic Service, Econometrics, and many more.
ecoholics.in/mobile-app/
Website - ecoholics.in/
For Enquiry: 7880107880
Whether it is the derivative or partial derivative of K...since you use the symbol ∂....
Hi,
We're here to help clear your doubts and answer your queries!
For FREE doubt-solving support and full LIVE courses on UGC-NET, Economics Optional for UPSC, Indian Economic Service, Econometrics, and much more, download the Ecoholics app. Get started on your journey to mastery in economics today!
📲 Download the App: ecoholics.in/mobile-app/
🌐 Visit Our Website: ecoholics.in/
☎️ For Enquiries: wa.me/917880107880
Regression in MS EXCEL SHEET , certificate has not been issued yet.
Hi Uddeshya,
It will be issued within 1 week of the Workshop