2 Which of the following statements are true regarding the isoquant curve and the isocost line? (i) A firm can produce on or Delow its isocost line but cannot produce above it (li) The slope of the isoquant curve is equal to the absolute value of the ratio of the two input prices (ili) The slope of the isocost line is called the marginal rate of technical substitution (iv) Two isocost lines that lie parallel to one another have the same input price ratio but two different budgets (total cost/expenditure). O Statements (i) and (fli) O Statements (il) and (iv) O Statements (i) and (iv) O Statements (1). (li), and (iv) Statements (i), (ill) and (iv) O None of the options provided