The interplay of a firm's isocost line and its isoquants determine the firm's production. The point at which the isocost line is tangent to the highest-possible isoquant is the point at which the firm maximizes its output keeping in view its cost constraints....
isocost line a line showing combinations ofFACTOR INPUTSthat can be purchased for the same total money outlay. SeeISOQUANT CURVE. Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005 Want to thank TFD for its existence?Tell a friend about us, add a link to...
Different combinations we can afford and we can use our ISO quant lines to see what level of production we want to achieve and compare it with our ISO cost line to find the lowest possible cost. Okay? So that's about it for this video. Let's do some practice problems before we move...
By analysis of using governments isoquant andisocost curve, the combinations are proved to exist. 通过引入政府等“产量”线和等成本线的分析,从理论上证明了最优的公有化与私有化组合、计划与市场化组合的存在。 2) the equal cost curve 等成本曲线 ...