When a Firm Seeks to Minimize Costs of Producing a Given

question 138

Multiple Choice

When a firm seeks to minimize costs of producing a given level of output,it does NOT need to know

• A)the available alternative methods of production.
• B)the level of output that maximizes its profits.
• C)the cost of the factors of production it uses.
• D)its production function.
• E)how its costs change as its production methods change.

---

Definitions:

Antiunionization Strategies

Techniques employed by some employers to prevent or minimize union presence and influence within their organization.

Wildcat Strike

An unauthorized work stoppage initiated by workers without the consent or approval of their union's leadership.

Positive Settlement Zone

A range within negotiation where the interests of all parties overlap, making agreement possible.

Bargaining Zone

The range or area within which an agreement is satisfactory to both parties involved in a negotiation process.