Question

If a firm is producing a given level of output in an technically-feasible manner, then it must be the case that... A. it is choosing the lowest-cost method of producing that output. B. The output level is greater than the input used. C. The input level is greater than output level. D. Both A and B

Answer 1

d. both a and c

a. this is the lowest cost method of producing that output

c. this output level is the most that can be produced with the given level of inputs