Suppose there are some commodities which can be produced with only labour, with only capital or with


Suppose there are some consequence which can be produced after a while solely labour, after a while solely cardinal or after a while a league of twain labour and cardinal, attract an isoquant for this peel of causative vital-force. How does MRTS behave?

Explain the aftercited and explain graphically

(a) Economic region;

(b) Constant elasticity of substitution;

(c) L-Shaped isoquants;

(d) Perfect substitutability and

(e) Perfect complementary.