The expansion path identifies:
A)the least costly combination of inputs required to produce various levels of output.
B)the firm's demand curves for the inputs.
C)the various combinations of inputs that can be used to produce a given level of output.
D)the least-cost combination of outputs.

Question

Quizplus · Accepted Answer

The expansion path shows the combination of inputs that minimizes cost for different levels of output, illustrating how a firm's input choices change as it scales production.

The Expansion Path Identifies