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

Question

Quizplus · Accepted Answer

The Answer is E

When a Firm Seeks to Minimize Costs of Producing a Given