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A least-cost combination refers to the optimal mix of resources or inputs that minimizes costs while achieving a specific level of output or meeting production requirements. In economics, it often involves selecting different factors of production—like labor and materials—in a way that balances cost efficiency with productivity. This concept is essential for businesses aiming to maximize profit by reducing expenses without sacrificing quality. Ultimately, it helps in making informed decisions about resource allocation.
What else can I help you with?
Why are some production combinations attainable and unattainable?
the combination which lies on PPC curve IS attainable combination.
What is the combination of slow growth and inflation?
stagflation
What is the most efficient combination of resources in producing any output?
The most efficient combination would be one which uses the smallest total quantity of all resources
What does it mean to have a mixed economy?
you have a combination of command and market economies
What is the ridge lines in economics?
ridge lines is the combination of isoquants
Types of business combination?
Types of Business Combination :-It has following four types :1. Vertical Combination.2. Horizontal Combination.3. Circular Combination.4. Diagonal Combination.
Difference between permutation and combination?
the permutation is an specific ordered combination. the combination is not need specific order combination...
Can you change the combination on a combination lock?
Yes, you can change the combination on a combination lock by following the manufacturer's instructions or using a reset tool, if provided.
What is an alphanumeric combination?
a combination of numbers and letters.
What is a Combination Machine used for?
Combination machines are generally woodworking machines. There can be different variants of the combination. One machine would be a combination of a table saw with a jointer for example. Another would be a combination of a jointer and a planer.
How do you open a combination lock without combination?
You have to have a combination. If you have a key lock you don't need a combination, all it is is a lock that says master and a key to turn it and then it opens what you have in it.
Were do you get your combination for your brinks combination lock if you forgot it?
You can't
What is the factory combination for your safe?
what is the factory combination for my safe ?
What is a combination of Republicans and populists?
What combination of republicans and populist
What is a chemical combination of a substance?
A substance is a chemical combination.
Is a combination lock a padlock?
A combination lock is not the same as a padlock. A combination lock could be in a padlock. A padlock can use different lock mechanisms, including a combination lock.
How do you know my combination to unlock sound?
You need to remember what you set as the combination or ask the person who originally set the combination.
