Economy, asked by mohammedbabor555, 5 hours ago

explain the statement'slope of isocost is the negative of factor's price ratio'

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Answered by brinlyqueen

Answer:

The slope of the isocost line represents the relative prices of the inputs, labor and capital. When the price of one changes relative to the price of the other, the line does not shift, but the slope changes.

Answered by joni83021

Answer:

1200 ×800 ratio for your answer

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explain the statement'slope of isocost is the negative of factor's price ratio'​

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explain the statement'slope of isocost is the negative of factor's price ratio'