The optimal method of production is the one that
A) maximizes output regardless of cost.
B) maximizes inputs.
C) minimizes cost.
D) minimizes the normal rate of return.

Name: The optimal method of production is the one that A) maximizes output regardless of cost. B) maximizes inputs. C) minimizes cost. D) minimizes the normal rate of return.
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

The optimal method of production is the one that minimizes cost for a given level of output, ensuring efficiency and cost-effectiveness in the production process.

The Optimal Method of Production Is the One That