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 regulation of respiration assignment help-homework help by online respiration tutors
Theory and lecture notes of Multivariable Linear Systems all along with the key concepts of Row-Echelon Form, Gaussian Elimination, number of solutions to a linear system, Mathematical Models, Quadratic Model and Regression Parabola. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Multivariable Linear Systems.
Transport system in animals tutorial all along with the key concepts of Functions of Circulatory System, Components of Circulatory System, Open and Closed Circulatory Systems, Composition of Blood and Functions of Blood
Vinegar Analysis and Chromatography tutorial all along with the key concepts of Description of chromatography, Types of Chromatography, Gas chromatography, Chromatography Work, Theory of Thin Layer Chromatography, Experimental procedure
safety in the laboratory tutorial all along with the key concepts of personal safety, using common sense, safety glasses, laboratory accidents, laboratory fires, handling chemicals
tutorsglobe.com cobb-douglas utility functions assignment help-homework help by online choice and utility maximization tutors
Approach the trusted Computational Geometry Assignment Help tutors and get top-notch solutions with 24x7 support and secure high grades.
tutorsglobe.com immunoglobulins assignment help-homework help by online immunology tutors
tutorsglobe.com functioning of male reproductive system assignment help-homework help by online reproduction tutors
if the items on the statement of financial position are listed randomly along with assets at the top of the statement and equity and liabilities beneath, it can be confusing, although it may consist of all of the information and be mathematically accurate.
tutorsglobe.com gene transfer in plants assignment help-homework help by online recombinant dna technology tutors
tutorsglobe.com respiration assignment help-homework help by online energy and enzymes tutors
TutorsGlobe.com Conics Assignment Help-Homework Help by Online Conics and Parametric Equations Tutors
tutorsglobe.com gibberellins assignment help-homework help by online phytohormones tutors
tutorsglobe.com coase theorem assignment help-homework help by online intermediate microeconomics tutors
1960885
Questions Asked
3689
Tutors
1466096
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!