Isocost Line:
The isocost line plays a significant role in determining the combination of factors that the firm will select for generation. An isocost line is stated as locus of points representing different combinations of two factors that the firm can purchase with a specified outlay. Higher isocost lines symbolize higher outlays (i.e., total cost) and lower isocost lines symbolize lower outlays.
Figure: Iso cost lines
The isocost line based on two things:
(1) Prices of the factors of generation and
(2) The net outlay that a firm has to build on the factors of production. Provided these two, the isocost line can be drawn. The slope of isocost line is equivalent to the ratio of the prices of two factors. Therefore the slope of the isocost line is specified as:
Slope of isocost line = Price of factor X (Capital) Price of factor Y (Labor)
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Production help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Production, project ideas and tutorials. We provide email based Production help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Production. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Production. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com negative interactions assignment help-homework help by online relationships among organisms tutors
tutorsglobe.com sources of accounting rules assignment help-homework help by online accounting for limited companies part ii tutors
Applications of Infrared Spectroscopy tutorial all along with the key concepts of Structural Elucidation, Infrared Spectroscopy as a Fingerprint technique, Identification of Polymorphs and Quantitative Analysis
Theory and lecture notes of Scheffe' and Tukey Tests all along with the key concepts of scheffe' and tukey tests, homework help, assignment help, f distribution and f-test tutors. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Scheffe' and Tukey Tests.
tutorsglobe.com advantages-disadvantages of self-pollination assignment help-homework help by online self pollination tutors
theory of pricing policy and key concepts of uniform pricing, price discrimination, complete price discrimination, direct segment discrimination, bundling and cannibalization, get managerial economics question's answers from tutors.
Bryohytes tutorial all along with the key concepts of Characteristics of Bryophytes, Morphology of Bryophytes, Features of Marchantia, Characteristics of Funaria and Adaptation of Bryophytes
Theory of Breadth First Search including the key concepts of JAR Problem, Uninformed Search, Assignment help and Homework help
Polymers tutorial all along with the key concepts of Basics of Polymers, Classification of Polymers, Homopolymers, Copolymers, classification of polymers on Mode of Polymerization, classification of polymers on Physical property related to heating, Characteristics and Applications of Polymers
Generalized Coordinates and Constraints tutorial all along with the key concepts of Degrees of Freedom, Holonomic Constraints, Non-holonomic Constraints, Non-integrable or history-dependent constraints, Generalized coordinates, Dot Cancellation, Generalized Force
Apparatus and Experimental Techniques tutorial all along with the key concepts of Laboratory Regulations and Safety, Laboratory note book, Laboratory Apparatus-Operations, Heating, Evaporation, Precipitation, Digestion, Filtration, Cooling
tutorsglobe.com successive electron affinities assignment help-homework help by online electron affinity tutors
www.tutorsglobe.com offers Components of the SRS homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
Mutation tutorial all along with the key concepts of Causes of mutation, Spontaneous mutation, Induced mutation, Classifying Mutations, Structural Effects, Functional Effects, Harmful mutations and Beneficial Mutations
Steps of activity based costing - The costing system that is already existing should be capable to adopt the activity based costing system that is why product costs can be precisely determined and correct pricing decisions can be taken in a competitive business environment.
1948354
Questions Asked
3689
Tutors
1484641
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!