If Isoquants Are Smooth and Convex, Then a Necessary Condition

question 17

Multiple Choice

If isoquants are smooth and convex, then a necessary condition for cost minimization is that the:

• A)cost minimizing bundle intersects the isoquant.
• B)MP per dollar of an input equals the MP per dollar of all others.
• C)MRTS equals the slope of the isoquant.
• D)price of the final good is equal to the MC of production.

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