The table below shows production that has taken place within Bequia utilizing all of its resources:       Canned Sardines    Scented Candles                    8               4                    20               8                   36               12                    58               16                     76               18                     94                22 Use your Knowledge about the P.P.C to rearrange the table and construct the Curve.

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Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.