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On an Isoquant/isocost Graph, the Least Cost Input Combination of Producing

Question 295

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 curve.
C) given by the tangency between the isoquant curve and the isocost line.
D) one of the intercept values on the graph.

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