46.Firms always would like to operate on: A. Least cost combination B. Maximum cost combination C. Firms output maximisation D. Employee maximisation
Question
46.Firms always would like to operate on: A. Least cost combination B. Maximum cost combination C. Firms output maximisation D. Employee maximisation
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Solution 1
The correct answer is A. Least cost combination.
Here's why:
Firms always aim to maximize their profits. One way to do this is by minimizing costs. Therefore, they would like to operate on the least cost combination. This means they aim to use the combination of inputs (like labor and capital) th Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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