An Isocost Line

question 4

Multiple Choice

An isocost line:

• A) Shows the different combination of factor inputs, which can be purchased with a given budget.
• B) The rate at which one factor input can be substituted for another at a given level of output.
• C) Possible combinations of factor inputs that can be used to produce a given level of output.
• D) Shows the marginal rate of substitution.

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