Feb 07, 2016
EE 471 Labour Demand (cont.)
. 2552 (. 471) () :
Isoquants Isocosts
qo (marginal cost) marginal products = input prices ?
?
scale effect substitution effectScale effect Substitution effect
Elasticity of Substitution isoquant substitution effectElasticity of Demand for Product Elasticity of supply for other inputs