A Business Encyclopedia

Types of Iso-quant Curves

Definition: An Iso-Quant curve is the geometrical representation of the different combinations of input factors employed to produce the given level of output.

Types of Iso-quant Curves

The iso-quant curves can be classified on the basis of the substitutability of factors of production. These are:

types of iso-quant curve

  1. Linear Iso-quant Curve: This curve shows the perfect substitutability between the factors of production. This means that any quantity can be produced either employing only capital or only labor or through ā€œnā€ number of combinations between these two.linear iso-quant curve
  2. Right Angle Iso-quant Curve: This is one of the types of iso-quant curves, where there is a strict complementarity with no substitution between the factors of production. According to this, there is only one method of production to produce any one commodity. This curve is also known as Leontief Iso-quant, input-output isoquant and is a right angled curve.right angle iso-quant curve
  3. Kinked iso-quant Curve: This curve assumes, that there is a limited substitutability between the factors of production. This shows that substitution of factors can be seen at the kinks since there are a few processes to produce any one commodity. Kinked iso-quant curve is also known as activity analysis programming iso-quant or linear programming iso-quant.Kinked Iso-quant curve
  4. Convex Iso-quant Curve: In this types of iso-quant curves, the factors can be substituted for each other but up to a certain extent. This curve is smooth and convex to the origin.convex iso-quant curve

Thus, the classification of the iso-quant curve can be done on the basis of the number of labor units that can be substituted for capital and vice-versa, so as to have the same level of production.

Leave a Reply

Your email address will not be published. Required fields are marked *


Related pages

duality of linear programmingihrm meaningbuzzmarketingfrank knight uncertaintysteps involved in demand forecastingwhat is moral suasionadvantages and disadvantages of brand extensionkisan vikas patra taxchitty fundtrait theory by gordon allportdefine population proportionsales promotion in marketing mixsunk cost meaningdefine pension schemesemantics barriersexamples of conglomerate diversificationleadership style laissez fairehindrances to effective communicationstructural unemployment occurs whenmeaning of ordinalsfeatures of isoquantadvantages and disadvantages of forecastingholistic deffeachers meaningethnocentric companydiminishing of marginal utilityapproaches of collective bargaining pdfinternalization definitionerg meaningorganizational theoristsaccounting turnover formuladefine contingency theoryclassification of elasticity of demandneft fund transfer limitpricing markupdemographics segmentation definitionhersberg theorybanking jargonshrm definedialetic methodblack scholes d1 d2pac man definitioncharacteristics of laissez-faire leadershipwhat is liquidity ratio formulafeatures of monopolistic competition in economicsthe profitability indexdeterminant definition economicssematic differentialdeontology definition ethicslockbox system definitionmultistage samplingjit production definitiondifferent types of queuing systemspolycentric pricing strategymeaning of marginal standing facilityimportance of industrial relations pptcomputerized stock control systemstraddling definitionmoratorium defwhistle blow meaningdefine cash reserve ratiopromotional mix marketing definitionwhat is total utility and marginal utilitywhat is a preliminary interviewwho is a franchiserformula for turnover ratioseven c's of communication with examplesapplication of classical conditioning in marketinglinear programing examplesmarginal costing in accountingfiedler modelwhat is the meaning of nbfc