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- Expansion_path abstract "In economics, an expansion path (also called a scale line) is a curve in a graph with quantities of two inputs, typically capital and labor, plotted on the axes. The path connects optimal input combinations as the scale of production expands. A producer seeking to produce the most units of a product in the cheapest possible way attempts to increase production along the expansion path.Economists Alfred Stonier and Douglas Hague defined expansion path as "that line which reflects the least cost method of producing different levels of output, when factor prices remain constant." The points on an expansion path occur where the firm's isocost curves, each showing fixed total input cost, and its isoquants, each showing a particular level of output, are tangent. As a producer's allowable total cost increases, the firm moves from one of these tangency points to the next; the line joining the tangency points is called the expansion path.If an expansion path forms a straight line from the origin, the production technology is considered homothetic (or homoethetic). In this case, the ratio of input usages is always the same regardless of the level of output, and the inputs can be expanded proportionately so as to maintain this optimal ratio as the allowable total cost expands. A Cobb–Douglas production function is an example of a production function that has an expansion path which is a straight line through the origin.".
- Expansion_path thumbnail Isoquant_isocost_graph.gif?width=300.
- Expansion_path wikiPageExternalLink OEPEX.HTM.
- Expansion_path wikiPageID "33311036".
- Expansion_path wikiPageLength "3398".
- Expansion_path wikiPageOutDegree "12".
- Expansion_path wikiPageRevisionID "675869331".
- Expansion_path wikiPageWikiLink Category:Economics.
- Expansion_path wikiPageWikiLink Cobb–Douglas_production_function.
- Expansion_path wikiPageWikiLink Conditional_factor_demands.
- Expansion_path wikiPageWikiLink Douglas_Hague.
- Expansion_path wikiPageWikiLink Economics.
- Expansion_path wikiPageWikiLink File:Isoquant_isocost_graph.gif.
- Expansion_path wikiPageWikiLink Homothetic_transformation.
- Expansion_path wikiPageWikiLink Income-consumption_curve.
- Expansion_path wikiPageWikiLink Income–consumption_curve.
- Expansion_path wikiPageWikiLink Isocost.
- Expansion_path wikiPageWikiLink Isoquant.
- Expansion_path wikiPageWikiLink Ratio.
- Expansion_path wikiPageWikiLink Tangent.
- Expansion_path wikiPageWikiLinkText "Expansion path".
- Expansion_path wikiPageWikiLinkText "expansion path".
- Expansion_path hasPhotoCollection Expansion_path.
- Expansion_path wikiPageUsesTemplate Template:Economics-stub.
- Expansion_path wikiPageUsesTemplate Template:Reflist.
- Expansion_path subject Category:Economics.
- Expansion_path hypernym Curve.
- Expansion_path type Album.
- Expansion_path type Science.
- Expansion_path comment "In economics, an expansion path (also called a scale line) is a curve in a graph with quantities of two inputs, typically capital and labor, plotted on the axes. The path connects optimal input combinations as the scale of production expands.".
- Expansion_path label "Expansion path".
- Expansion_path sameAs Senda_de_expansión.
- Expansion_path sameAs Sentier_dexpansion.
- Expansion_path sameAs m.0h7q47r.
- Expansion_path sameAs Q3478677.
- Expansion_path sameAs Q3478677.
- Expansion_path wasDerivedFrom Expansion_path?oldid=675869331.
- Expansion_path depiction Isoquant_isocost_graph.gif.
- Expansion_path isPrimaryTopicOf Expansion_path.