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Answer to Question #130869 in Microeconomics for umer

Question #130869
What is the slope of an iso-cost line equal to and why? Provide mathematical explanation
1
Expert's answer
2020-08-31T15:23:38-0400

The slope of an iso-cost line is equal to the slope of an isoquant since the slope of an isoquant tells the firm how much capital is needed to replace a unit of labor to maintain the output while the slope of an iso-cost line shows the relative price of the inputs.




Slope=W/r

Where W is price of labour

r is the price of capital


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