Choosing inputs to minimize cost, Microeconomics

Choosing Inputs 

  • How to minimize cost for the given level of output.
  • We can do so by combining Isocosts with Isoquants

                             Producing a Given Output at Minimum Cost

1815_output at minimum cost.png

Posted Date: 10/12/2012 2:57:44 AM | Location : United States







Related Discussions:- Choosing inputs to minimize cost, Assignment Help, Ask Question on Choosing inputs to minimize cost, Get Answer, Expert's Help, Choosing inputs to minimize cost Discussions

Write discussion on Choosing inputs to minimize cost
Your posts are moderated
Related Questions
explain marris model of the managerial enterprise

a. The diagram above depicts the current position of a hypothetical economy using the Keynesian Income/Expenditure approach. If national income is currently at Y1 explain why this

Inflation-Unemployment Trade-off under Adaptive Expectations : By the late 1960s, the inverse relation between inflation and unemployment as suggested by the Phillips curve was

What is the Macroeconomics? Macroeconomics is study about the aggregate behavior of the economy like how the actions of all the individuals and firms within the economy intera

Is it true to say that inflation can only sustain with the increase in money supply?  Inflation can only be sustained if there is a persistent enhance in money supply. If there

Distinguish among the terms of trade and the balance of trade for a country. Definition of terms of trade a) The amount of a given amount of export goods essential to buy

"Describe the current Australian economic situation and support your claims with relevant economic indicators and variables.  The RBA has maintained the cash rate of 4.75% for the


Productivity:Generally, productivity measures efficiency or effectiveness of productive effort. Productivity can be measured in several different ways. Physical productivity measur

The Money Multiplier is explained below: If you see carefully, the money multiplier is nothing but an inverse of a reserve ratio. Therefore, we can write MM = 1/rr, where rr is