An isocost line represents combinations of:
A)inputs with the same output.
B)inputs with the same cost.
C)goods with the same cost.
D)goods with the same utility.

Question

Quizplus · Accepted Answer

An isocost line represents different combinations of inputs that have the same cost. It shows the various amounts of two inputs that can be used to produce a particular level of output while spending the same amount of money on the inputs. Hence, option B is the correct answer.

An Isocost Line Represents Combinations Of