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

question 55

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

---

Definitions:

Wildcard

A symbol used to represent one or more characters in a search or pattern matching operation.