| 单词 | isocost curve |
| 释义 | isocost curve A curve showing the combinations of factor inputs that can be bought for any given sum. If firms are acting as price-takers in factor markets, the isocost curve is a straight line, whose slope represents the relative prices of different factors' services. In equilibrium a firm will use the factors it buys to produce the largest possible output, corresponding to the isoquant tangential to the iscost curve. |
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