If an Isocost Line Crosses the Isoquant Twice,a Cost Minimizing

question 111

Multiple Choice

If an isocost line crosses the isoquant twice,a cost minimizing firm will

• A) use a different isocost line to select the bundle of inputs.
• B) use the input bundle associated with the intersection on the higher point of the isoquant.
• C) use the input bundle associated with the intersection on the lower point of the isoquant.
• D) Both B and C.

---

Definitions:

Traditional Values

Beliefs and moral codes that are passed down from generation to generation within a culture or society.

Minimum Sufficiency

The lowest level of effort or input required to achieve a desired outcome or effect.

Internalization

The process by which children adopt adults’ standards and rules as their own.