The _____________ indicates the least costly way of producing each output level when all inputs can be varied.

Fill in the blank(s) with the appropriate word(s).

Answer: Expansion Path

Economics

You might also like to view...

Education of girls is a crucial development investment because

(a) it leads to improved child health. (b) it leads to reduced fertility. (c) women do most of the work in agriculture. (d) all of the above.

Economics

The basic economic argument for greater income equality is that:

A. an equal distribution of income is the logical outcome of any tax-transfer program. B. because citizens enjoy political equality, they are also entitled to economic equality. C. a more equal distribution of income will tend to maximize incentives to work, invest, and assume risk. D. a more equal distribution of a given amount of income will increase the total utility of consumers.

Economics