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20-12-2019
Business

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) When an isocost line is just tangent to an isoquant, we know that:A) output is being produced at minimum cost. B) the two products are being produced at the highest input cost to the firm. C) the two products are being produced at the least input cost to the firm. D) output is not being produced at minimum cost.

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fortuneonyemuwa fortuneonyemuwa

20-12-2019

Answer:

A. Output is being produced at minimum cost- is correct

Explanation:

When an isocost line is tangent to an isoquant cost is being minimized

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