Multiple Choice
The combination of two inputs that results in a given quantity of output at least cost occurs where
A) an isocost line is tangent to the relevant isoquant.
B) average total cost is at its minimum.
C) long-run average total cost is at its minimum.
D) an isoquant reaches its minimum.
E) an isoquant is at its steepest.
Correct Answer:
Verified
Correct Answer:
Verified
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