When an Isocost Line Is Just Tangent to an Isoquant

question 107

Multiple Choice

When an isocost line is just tangent to an isoquant, we know that:

• A) output is being produced at minimum cost.
• B) output is not being produced at minimum cost.
• C) the two products are being produced at the least input cost to the firm.
• D) the two products are being produced at the highest input cost to the firm.

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