Economy, asked by Sarmin0922, 2 months ago

What is the general shape of an iso- cost line?

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Answered by shravanidhobale68

0

The eso- cost line is a firm's budget constraint when buying factors of production. To calculate the isocost line for firm, begin with the total

cost equation, TC = (W×L)+(R×K) and

solve for K. W=wages, L=labor, R=the rent ( what you pay for the use of capital ) , and K= capital

.

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