If a Firm Is Producing a Given Level of Output

question 35

Multiple Choice

If a firm is producing a given level of output in a technically efficient manner,then it must be the case that

• A)this is the lowest cost method of producing that output.
• B)each input is producing its maximum marginal product.
• C)this output level is the most that can be produced with the given levels of inputs.
• D)both a and c
• E)all of the above

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