Question:
At a given cost level, a graph which shows combinations of labor and capital that can be used to produce is called:
At a given cost level, a graph which shows combinations of labor and capital that can be used to produce is called:
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Isocost curves are analogous to budget lines in production theory.
Updated On: Jan 17, 2026
- Indifference Curve
- Budget Line
- Isocost Curve
- Production Possibility Curve
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The Correct Option is C
Solution and Explanation
Step 1: Understand concepts: Isocost curve represents all combinations of inputs (labor & capital) that cost the same total amount.
Step 2: Conclude: Correct answer is Isocost Curve.
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