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onetouch onetouch
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A year ago
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.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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lulllull
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A year ago
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