Suppose that price of capital is 1 and price of labor is 2
Suppose that price of capital is $1 and price of labor is $2 and total outlay is $16. Write the equation for the iso-cost line and plot it on the same graph with the iso-quants.
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suppose that price of capital is 1 and price of labor is 2 and total outlay is 16 write the equation for the iso-cost
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