A Firm Operates at Its Least- Cost Position for a Given

question 83

Multiple Choice

A firm operates at its least- cost position for a given level of output by equating

• A)the average product for each factor.
• B)the marginal product of each factor.
• C)the price of each input.
• D)the total expenditure on each input.
• E)the marginal product per dollar spent for each factor.

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Definitions:

Poor Maternal Nutrition

Insufficient or unbalanced dietary intake during pregnancy, which can adversely affect the health and development of the fetus.

Miscarriage

The unexpected loss of a pregnancy before the fetus can survive outside the womb, typically before 20 weeks of gestation.

Low Birth Weight

A term used to describe babies born weighing less than 2,500 grams (5 pounds, 8 ounces).

Marijuana

A psychoactive drug from the Cannabis plant, used for medical or recreational purposes, known for its effects on mood, perception, and behavior.