Changes in the price of an input cause: » MCQ Academy English

Managerial Economics

Changes in the price of an input cause:

soquants to become steeper
Slope changes in the isocost line
Parallel shifts of the isocost lines
Changes in both the isoquants and isocosts of equal magnitude

Note

Changes in the price of an input cause slope changes in the isocost line.

Tags: The Production Process and Costs

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