Determining the optimal choice of input combinations generally does not involve
A)substitution of one input for another.
B)fixing the level of technology in the long run.
C)minimizing cost, given the prices of inputs.
D)assessing the productivity of various inputs.

Question

Quizplus · Accepted Answer

Determining the optimal input combination involves considering the trade-off between the marginal products and prices of various inputs. Fixing the level of technology in the long run does not affect the choice of input combination in the short run.

Determining the Optimal Choice of Input Combinations Generally Does Not