Least cost combination of two factor inputs is achieved at a point where:

A. Budget line cuts the isoquant

B. Budget line is below the isoquant

C. Budget line is tangent with isoquant

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. The products, under monopolistic competition are differentiated, yet they are:
  2. The demand curve slopes downwards due to:
  3. A typical demand curve cannot be:
  4. The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:
  5. The equilibrium conditions, MC = MR = AR = AC, will happen:
  6. The Law of Equi-Marginal Utility refers to:
  7. Variable cost includes the cost of:
  8. Nash equilibrium says:
  9. In constant sum game (zero sum game), if there are two parties then:
  10. Under which of the following forms of the market structure does a firm have no control over the price…
  11. A firm is a sum of persons who convert:
  12. All money costs can be regarded as:
  13. Under price discrimination, the buyers must:
  14. The partial equilibrium model keeps other things:
  15. The cobweb model will convergent when the slope of:
  16. Normally when price per unit of time falls:
  17. Marginal revenue from a given output:
  18. An inferior good/ commodity is inferior for:
  19. Selling costs are incurred under monopolistic competition to:
  20. Total utility:
  21. In the real world, some competitive firms owns specialized resources that earn a return called:
  22. On a straight line demand curve, elasticity of demand at the midpoint is:
  23. Indifference curve approach (ordinal approach) is superior to utility approach (cardinal approach) because:
  24. The standard form of demand function is:
  25. Supply and demand changes have their most rapid impact in:
  26. Demand of a commodity is elastic when:
  27. In case of budget line, we get pairs of two goods where consumers income is:
  28. Production function shows:
  29. The production function can convey to a firm:
  30. A budget line shows: