A Firm's Least- Cost Position for Producing a Given Output

Multiple Choice

A firm's least- cost position for producing a given output level occurs at that point where

A) the isocost line intersects the highest isoquant.
B) the isocost and isoquant intersect the vertical axis.
C) the isocost and isoquant intersect the horizontal axis.
D) the isocost line and the isoquant are tangent to each other.
E) the isoquant is closest to the origin.