In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when:
Note
In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when its price falls.
In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when:
In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when its price falls.