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Sladkaya [172]
2 years ago
14

Suppose that the price of labor (PL) is $10 and the price of capital (PK) is $20. What is the equation of the isocost line corre

sponding to a total cost of $100
Business
1 answer:
gayaneshka [121]2 years ago
8 0

Answer:

$100 = $10PL + $20PK

Explanation:

Computation for the equation of the isocost line

Using this formula to compute the equation of the isocost line

Total cost=Price of labor (PL)+Price of capital (PK)

Where,

Total cost=$100

Price of labor (PL)=$10

Price of capital (PK)=$20

Now Let plug in the formula to compute the equation of the isocost line

$100 = $10PL + $20PK

Therefore the equation of the isocost line corresponding to a total cost of $100 will be $100 = $10PL + $20PK

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