isocost line

isocost line

a line showing combinations of FACTOR INPUTS that can be purchased for the same total money outlay. See ISOQUANT CURVE.
References in periodicals archive ?
Then, the isocost line becomes AB', and the equilibrium point of the firm's maximum profit moves from a to b.
Reading the isocost line confirms that the quality cost of this problem is 1 % of sales (figure 2).
The isocost lines verify that we need extremely low probabilities of failure, way below the FMEA scale.
q] , the isocost line pivots clockwise in point B, indicating the higher factor-price ratio--(1 + [t.
Rather than looking at a steeper isocost line, for didactical purposes we consider a movement at the isocost curve through point D by looking at tax rate changes that leave the factor price ratio constant.
to be less than it is, making the isocost line as it appears to the
Graphically speaking, the cost of adopting coupling/cohesion combinations indicated by points 1 and 2 in the figure is given by the position of the isocost line running through each coupling~cohesion combination.
The slope of the isocost line, (-w/r) is the ratio of factor prices: the line will become steeper or flatter as the absolute value of the rate increases or decreases.
The isocost line is at the efficient price for this median voter and point C is their preferred price and quantity choice.
With institutionally fixed wages for doctors and unit price per beds (c), the initial isocost line is given by [C.
This causes the isocost line to be represented by AC.