In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when:
A)Its price rises.
B)Its price falls.
C)Its price remains the same.
D)The price of other inputs fall.

Question

Quizplus · Accepted Answer

When the price of an input falls, it becomes cheaper to use, so the firm should use more of it to minimize production costs while maintaining the same level of output.

In Order to Minimize the Cost of Producing a Given