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Draw an isocost curve showing the different combinations

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Either coal (C) or gas (G) can be used in the production of steel. The cost of coal is 300 per unit, while the cost of gas is 600.

(A) Draw an isocost curve showing the different combinations of gas and coal that can be purchased with an initial expenditure of E=18,000.

(B) What happens to the isocost curve if the price of gas increases by twenty percent?

Reference no: EM132373391

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