The mixture of inputs that produces a particular level of output at the lowest cost is called the optimal combination of inputs.

Name: The mixture of inputs that produces a particular level of output at the lowest cost is called the optimal combination of inputs.
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The optimal combination of inputs is the mix of factors of production that yields the highest quantity of output for the lowest cost, which is achieved at the point where the marginal product per dollar of each input is the same.

The Mixture of Inputs That Produces a Particular Level of Output