Multiple Choice
On an isoquant/isocost graph, the least cost input combination of producing a given output is
A) any point on the isoquant curve.
B) any point on the isocost line.
C) given by the tangency between the isoquant curve and the isocost line.
D) one of the intercept values on the graph.
Correct Answer:
Verified
Correct Answer:
Verified
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