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A firm's least-cost position for producing a given output level occurs at that point where the isoquant is closest to the origin. the isocost and

A firm's least-cost position for producing a given output level occurs at that point where

the isoquant is closest to the origin.

the isocost and isoquant intersect the vertical axis.

the isocost line and the isoquant are tangent to each other.

the isocost and isoquant intersect the horizontal axis.

the isocost line intersects the highest isoquant.

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