Isocost lines associated with ______ total cost lie ______ the origin.
A) Lower; farther from
B) Higher; farther from
C) Higher; closer to
D) Sunk; closer to

Question

Quizplus · Accepted Answer

Isocost lines associated with higher total cost lie farther from the origin because they represent combinations of inputs that cost more, thus requiring a greater distance from the origin to maintain the same level of cost.

Isocost Lines Associated with ______ Total Cost Lie ______ the Origin

Isocost Lines Associated with Total Cost Lie the Origin