Multiple Choice
Find the least cost output assuming that MPL = €10 and MPK = €20
A) Total cost of labour €200 and total cost of capital €200
B) Total cost of labour €200 and total cost of capital €400
C) Total cost of labour €400 and total cost of capital €200
D) It can't be done.
Correct Answer:
Verified
Correct Answer:
Verified
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Q17: Trying to maximize output and minimize costs
Q18: Why might the least-cost input combination change?
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