Instructed to Choose the Combination of Inputs That Minimizes the Cost

question 20

Multiple Choice

Instructed to choose the combination of inputs that minimizes the cost of producing 2,000 pan-head screws,your assistant returns with the startling news that the Lagrangian multiplier is $0.10.From this you conclude that:

• A) costs have not been minimized.
• B) the average cost of producing screws at 2,000 units is $0.10.
• C) the marginal cost of producing screws at 2,000 units is $0.10.
• D) marginal cost equals average cost.
• E) the price of the screws must be $0.10.

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Definitions:

Append Query

A type of query in database management systems used to add records from one or more sources to the end of one or more tables.

Short Text

A data type in database systems used to store brief pieces of text, typically limited in length.

Number Field

An input field in software or a database designed to only contain numerical values.

Self Join

A join in SQL where a table is joined to itself to compare rows within the same table.