On an Isoquant/isocost Graph, the Least Cost Input Combination of Producing

question 47

Multiple Choice

On an isoquant/isocost graph, the least cost input combination of producing a given output is

• A)any point on the isoquant curve.
• B)any point on the isocost line.
• C)given by the tangency between the isoquant curve and the isocost line.
• D)one of the intercept values on the graph.

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Definitions:

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