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Q: What is the difference between an isocost curve and an isocost line?
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What is difference between indifference curve and budget line?

budget line shows purchasing power of an consumer but indifference curve show willingness of consumer for two commodities.


What is the difference between tangent and secant line?

The tangent line is the instantaneous rate of change at a point on a curve. The secant line crosses a curve twice at points A and B, representing the average rate of change between those two points.


ISOcost line is also called as profit line?

The ISOcost line shows combinations of inputs that yield the same level of cost. It is not the same as the profit line, which represents combinations of outputs that generate the same level of profit. Profit lines are typically used to analyze profit-maximizing decisions, while ISOcost lines are used to analyze cost-minimizing decisions.


Difference between line of best fit and curve of best fit?

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Define isocost line?

A line along which the cost of something -- usually a combination of two factors of production -- is constant. Since these are usually drawn for given prices, which are therefore constant along the line, an isocost line is usually a straight line, with slope equal to the ratio of the (factor) prices.


What is the difference between a linear scale and a non linear scale?

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What is a line or smooth curve?

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What is the difference between an arc and a chord?

If you take two distinct points on a curve, the arc is the part of the curve connecting the two points while the chord is the straight line connecting them.


What is the difference between curve and curvature?

A curve is a continuous line formed by points in a space, while curvature measures how much a curve deviates from being a straight line at a given point. In other words, curvature quantifies the bend or deviation of a curve at a specific location along its length.


What is the relationship between lorenz curve and the gini coefficient?

Relationship between Lorenz curve and Gini coefficient is the more the Lorenz line curves away from the line of equality, the greater the degree of inequality represented.


What is the meaning of regular curve line?

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What is the difference between a line and a line segment?

Yes there is a large difference between the two. A line has no end and a line segment ends.