Summary
Summary ECO2003F UCT
- Course
- ECO2003
- Institution
- University Of Cape Town (UCT)
I got you. Trust me.
[Show more]
Seller
Follow
Content preview
Cost in thelong RUI
OTC C
C nkt wh
Solving for K
K
G EL
Vertical intercept Slope of
of the isoost
the isocost line
line
note the slope of the iso cost is
simply the relative
price of labour in terms of capital
Optimal
Mmmm
f
, Isoost cones
Fa the isocost Imes is the locus
given input prices
of all possible input bundles that can be purchased for a
given
level of total expenditure
80 Maximum Output
A 8mm that is to produce the longest possible
trying
output for a expenditure of c will select the input combination
at which the isocost line for C is
tangent to a
isoquart
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kopanosegoale. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R203,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now