The optimal method of production maximizes cost for a given level of output.

Optimal Method

The most efficient way of achieving a desired outcome or solving a problem, based on current resources and conditions.

Minimizes Cost

The process or strategy of reducing expenses to the lowest possible level.

Calculate the optimal method of production based on the cost of capital and labor.

Verified Answer

Final Answer :

False

Explanation :

The optimal method of production aims to minimize cost for a given level of output, not maximize it.

Learning Objectives

Calculate the optimal method of production based on the cost of capital and labor.