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Unit isocost line |
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Unit isocost lineAn isocost line along which cost is equal to one unit of the numeraire, such as one dollar.Similar MatchesIsocost lineIsocost 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. |
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