Multiple Choice
Costs are clearly minimized for a given level of output as long as the firm
A) uses inputs that do not exhibit declining productivity.
B) pays the same price for all of its inputs.
C) is not able to increase output by substituting a dollar's worth of input A for a dollar's worth of input B, or vice versa.
D) can increase output without increasing its cost.
E) equates the marginal products of both inputs A and B.
Correct Answer:

Verified
Correct Answer:
Verified
Q11: The easiest and most inexpensive form of
Q12: A business firm that is regarded as
Q13: If the average product of labor falls
Q14: The following question are based on the
Q15: General Motors was formed in 1908 by<br>A)
Q17: The system of checks and balances that
Q18: An important element of the Sarbanes-Oxley Act
Q19: The law of diminishing marginal returns means
Q20: The following question are based on the
Q21: The law of diminishing marginal returns CANNOT