The Following Figure Shows the Isoquants,IQ₁ and IQ₂,for a Competitive

question 41

Multiple Choice

The following figure shows the isoquants,IQ₁ and IQ₂,for a competitive firm.
Figure 16-1
-Refer to Figure 16-1.Which of the following is true at point C?

• A)At point C,the marginal product of labor and capital is maximized.
• B)Point C identifies the level of output that gives the firm the highest marginal revenue.
• C)Point C identifies the least cost method of producing output Q₁.
• D)Point C shows that the firm operates with constant returns to scale.

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