Is use of least-cost input combinations a necessary condition for profit maximization? Is it a sufficient condition?

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Is use of least-cost input combinations a necessary condition for profit maximization? Is it a sufficient condition? Explain.

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Managerial Economics

ISBN: 978-0324588866

12th edition

Authors: Mark Hirschey

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Question Posted: Feb 13, 2015 09:50 AM

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Is use of least-cost input combinations a necessary condition for profit maximization? Is it a sufficient condition?

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Employment of leastcost input combinations is a necessary but not sufficient condition for ...View the full answer

Managerial Economics

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