When an isocost line is just tangent to an isoquant, we know that
A) output is being produced at minimum cost.
B) output is not being produced at minimum cost.
C) the two products are being produced at the least input cost to the firm.
D) the two products are being produced at the highest input cost to the firm.
A
Economics
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In the Keynesian cross diagram, an increase in autonomous consumer expenditure causes the aggregate demand function to shift ________ and the equilibrium level of aggregate output to ________,
everything else held constant. A) up; rise B) up; fall C) down; rise D) down; fall
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Externalities prevent the market mechanism from achieving the optimal rate of pollution.
Answer the following statement true (T) or false (F)
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