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Author Question: A firm's least-cost position for producing a given output level occurs at that point where (Read 58 times)

swande

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on: Oct 12, 2022

Question 1

The slope of a firm's isocost line is equal to the ratio of
◦ the marginal products of its factors.
◦ the factor prices.
◦ total variable cost to total cost.
◦ the marginal rate of substitution between factors.
◦ product prices.

Question 2

A firm's least-cost position for producing a given output level occurs at that point where
◦ the isocost and isoquant intersect the horizontal axis.
◦ the isoquant is closest to the origin.
◦ the isocost and isoquant intersect the vertical axis.
◦ the isocost line and the isoquant are tangent to each other.
◦ the isocost line intersects the highest isoquant.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by swande on Oct 12, 2022

Jim457

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Reply #1 on: Oct 12, 2022
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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swande

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

frankwu0507

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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