Definition of Isocost. Meaning of Isocost. Synonyms of Isocost

- In economics, an isocost line shows all combinations of inputs which cost the same total amount. Although similar to the budget constraint in consumer...
- isoquant 2. In managerial economics, isoquants are typically drawn along with isocost curves in capital-labor graphs, showing the technological tradeoff between...
- remain constant." The points on an expansion path occur where the firm's isocost curves, each showing fixed total input cost, and its isoquants, each showing...
- segment is an isocost curve showing various amounts of labor and capital whose combined usage would cost a given amount unique to that isocost curve. Conditional...
- the slope of the isoquant at the chosen point equals the slope of the isocost curve (see conditional factor demands). It is the rate at which one input...
- production quantity for alternative combinations of input usages, and an isocost curve (also in the image at right) shows alternative usages having equal...
- average, and marginal product curves marginal productivity isoquants & isocosts the marginal rate of technical substitution Production function inputs...