Multiple Choice
The MPP of labor divided by its (labor's) price is greater than the MPP of capital divided by its (capital's) price. Costs can be minimized by
A) buying more capital and less labor.
B) buying more labor and less capital.
C) maintaining the current MPP/P ratios.
D) buying twice as much labor as capital.
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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