There are an infinite number of isocost lines, corresponding to every possible level of total cost.

Name: There are an infinite number of isocost lines, corresponding to every possible level of total cost.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. Isocost lines represent all the different combinations of inputs (such as labor and capital) that result in the same total cost. Since there are an infinite number of possible levels of total cost, there must be an infinite number of isocost lines that correspond to them.

There Are an Infinite Number of Isocost Lines, Corresponding to Every