If a firm is minimizing the total cost of producing a given level of output, then it must also be maximizing the level of output produced at a given level of total cost.

Question

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If a firm is minimizing the total cost of producing a given level of output, it means that it is using the most efficient combination of inputs to produce that output. This implies that the firm is also maximizing the level of output produced at a given level of total cost.

If a Firm Is Minimizing the Total Cost of Producing