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Isocost line |
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Isocost lineA line along with the cost of something -- usually a combination of two factors of production -- is constant. Since these are usually drawn for given prices, which are therefore constant along the line, an isocost line is usually a straight line, with slope equal to the ratio of the (factor) prices.Similar MatchesUnit isocost lineUnit isocost lineAn isocost line along which cost is equal to one unit of the numeraire, such as one dollar. |
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