Optimal input combination to minimize the cost for a given output will be at the point where nb...........

Miscellaneous Others

Optimal input combination to minimize the cost for a given output will be at the point where : (2 marks)

Isocost is tangent to Isoquant

MRTS between inputs is equal

Any movement from optimum point will lead to low level of output

All the above conditions are fulfilled.

All the above conditions are fulfilled.

Submit Error