Select the statements below that are correct. Choose one or more: A. Conditional factor demands give the profit-maximizing choices of inputs, given the price of output. B. An isocost curve represents all possible combinations of the inputs of production that yield the same cost. C. If the cost of producing y units of output is C dollars, the isoquant for the level of output y must be identical to the isocost for C dollars. D. The cost function measures the minimal cost of producing any level of output, given the costs of the factors of production. E. An isoquant represents all possible combinations of the inputs of production that yield the same level of output.

B. An isocost curve represents all possible combinations of the inputs of production that yield the same cost.

D. The cost function measures the minimal cost of producing any level of output, given the costs of the factors of production.

E. An isoquant represents all possible combinations of the inputs of production that yield the same level of output.

Explanation:

Option A is incorrect

The conditional factor demand doesn't give the profit maximizing level given the output choices.

Option B is correct

An isocost curve represents all possible combinations of the inputs of production that yield the same cost.

Option C is incorrect

If the cost of producing y units of output is C dollars, it doesn't imply that the isoquant for the level of output y must be identical to the isocost for C dollars.

Option D is correct

The cost function measures the minimal cost of producing any level of output, given the costs of the factors of production.

Option E is correct

An isoquant represents all possible combinations of the inputs of production that yield the same level of output.

Therefore, the correct options are B, D, and E.

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