7.3 Cost in the Long Run >User cost(使用成本)of capital-Sum of the annual cost of owning and using a capital asset,equal to economic depreciation plus forgone interest. >Rental rate-Cost per year of rent ing one unit of capital. Isocost line -Graph showing all possible combinations of labor and capital that can be purchased for a given total cost. Copyright by Caidonghong Copyright by Caidonghong 7.3 Cost in the Long Run ➢ User cost(使用成本)of capital-Sum of the annual cost of owning and using a capital asset, equal to economic depreciation plus forgone interest. ➢ Rental rate - Cost per year of rent ing one unit of capital. ➢ Isocost line - Graph showing all possible combinations of labor and capital that can be purchased for a given total cost