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

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