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

Question

Quizplus · Accepted Answer

When the price of an input falls, it becomes relatively cheaper than other inputs. This makes it more cost-effective to use more of that input to produce a given level of output, thereby reducing the overall cost of production.

In Order to Minimize the Cost of Producing a Given