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At this point, the slope of the isoquant, and the slope of the isocost, will be equal (see intersection of graph D). A firm has incentive to produce at the least cost combination because it is at this point, the related costs of desired production are minimised. [9] As with indifference curves, two isoquants can never cross.
The simplest is the slope-intercept form: = +, from which one can immediately see the slope a and the initial value () =, which is the y-intercept of the graph = (). Given a slope a and one known value () =, we write the point-slope form:
In the figure, the point C / w on the horizontal axis represents that all the given costs are used in labor, and the point C / r on the vertical axis represents that all the given costs are used in capital . The line connecting these two points is the isocost line. The slope is -w/r which represents the relative price.
Given the two red points, the blue line is the linear interpolant between the points, and the value y at x may be found by linear interpolation.. In mathematics, linear interpolation is a method of curve fitting using linear polynomials to construct new data points within the range of a discrete set of known data points.
In particular it is important to assure that for two given line segments, a new line segment can be constructed, such that its length equals the product of lengths of the other two. Similarly one needs to be able to construct, for a line segment of length , a new line segment of length . The intercept theorem can be used to show that for both ...
The formulas given in the previous section allow one to calculate the point estimates of α and β — that is, the coefficients of the regression line for the given set of data. However, those formulas do not tell us how precise the estimates are, i.e., how much the estimators α ^ {\displaystyle {\widehat {\alpha }}} and β ^ {\displaystyle ...
All problems that can be solved using mass point geometry can also be solved using either similar triangles, vectors, or area ratios, [2] but many students prefer to use mass points. Though modern mass point geometry was developed in the 1960s by New York high school students, [ 3 ] the concept has been found to have been used as early as 1827 ...
Slope illustrated for y = (3/2)x − 1.Click on to enlarge Slope of a line in coordinates system, from f(x) = −12x + 2 to f(x) = 12x + 2. The slope of a line in the plane containing the x and y axes is generally represented by the letter m, [5] and is defined as the change in the y coordinate divided by the corresponding change in the x coordinate, between two distinct points on the line.