The First Principle of Cost Minimization Is

question 86

Multiple Choice

The first principle of cost minimization is:

• A)that the optimal input bundle is below the feasible set.
• B)that the optimal input bundle is on the isoquant.
• C)that the firm maximizes profits.
• D)that the optimal input bundle is in the feasible set.

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Definitions:

Hem/o

A prefix used in medical terminology that refers to blood.

Hepat/o

A prefix relating to the liver.

Neur/o

A prefix in medical terminology referring to nerves or the nervous system.

Pneum/o

A combining form representing the lungs or air, used in medical terminology.