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Author Question: The point of tangency between an isocost line and an isoquant is necessarily (Read 162 times)

karen

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on: Apr 19, 2019

Question 1

The least costly way to produce any given level of output is indicated by


◦ the point of intersection between the isoquant corresponding to that level of output and the 
Y-axis.
◦ the point of intersection between the isoquant corresponding to that level of output and the 
X-axis.
◦ the point of tangency between an isocost line and the isoquant corresponding to that level of output.
◦ the isocost line corresponding to that level of output.

Question 2

The point of tangency between an isocost line and an isoquant is necessarily


◦ the profit-maximizing combination of inputs that should be hired to produce that output level.
◦ the least costly combination of inputs that can be hired to produce the output level.
◦ both the profit-maximizing and least costly combination of inputs that can be used to produce the output level.
◦ the minimum amount of output that can be attained for that level of expenditure.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by karen on Apr 19, 2019

cam1229

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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karen

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

JaynaD87

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Reply 3 on: Yesterday
:D TYSM

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