In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when: Select one: a The price of other inputs fall b. Its price rises. c Its price falls. d. Its price remains the same.

In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when: Select one: a The price of other inputs fall b. Its price rises. c Its price falls. d. Its price remains the same.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section: Chapter Questions

Problem 15QP

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Question

In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when:
Select one:
a. The price of other inputs fal.
b. Its price rises.
c. Its price falls.
d. Its price remains the same.

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