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From |
Christopher F Baum <baum@bc.edu> |

To |
statalist@hsphsun2.harvard.edu |

Subject |
st: Re: iso- |

Date |
Fri, 24 Sep 2004 08:12:55 -0400 |

On Sep 24, 2004, at 2:33, Nick wrote:

Every elementary microeconomics text is full of figures containing isoquants (the combinations of labor and capital that yield the same output from the production process) and "indifference curves", which are iso-utility contours: combinations of the two goods that a consumer might purchase which provide her with equal utility.In days when some scholars used to show off what Greek they know, or had found in a dictionary, almost every kind of line showing constant values was given a distinct name: some have flourished in limited fields, e.g. isotherm (temperature), isohyet (rainfall), isobath (depth). Some failed to get off the ground, e.g. isonoet (lines of equal IQ), found I believe only in one study of IQ patterns in Tasmania. Nick

My late graduate macro professor had it right: a bumper sticker on his door read

"When guns are outlawed...

Outlaws will have butter."

Kit Baum, Boston College Economics baum@bc.edu

http://fmwww.bc.edu/ec/baum.php

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