What is an Isocost line and which are its shifts?

      

What is an Isocost line and which are its shifts?

  

Answers


Wilfred
In the same way we derived a budget line fro consumers budget constraint, we can derive an isocost line from the cost function.
Isocost line is a locus of all combinations of factors the firm can purchase with a given monetary cost outlay.

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Wilfykil answered the question on March 7, 2019 at 05:58


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