The combination of two inputs that results in a given quantity of output at least cost occurs where
A)an isocost line is tangent to the relevant isoquant.
B)average total cost is at its minimum.
C)long-run average total cost is at its minimum.
D)an isoquant reaches its minimum.
E)an isoquant is at its steepest.

Question

Quizplus · Accepted Answer

The Answer of The combination of two inputs that results in a given quantity of output at least cost occurs where
A)an isocost line is tangent to the relevant isoquant.
B)average total cost is at its minimum.
C)long-run average total cost is at its minimum.
D)an isoquant reaches its minimum.
E)an isoquant is at its steepest.

The Combination of Two Inputs That Results in a Given