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If a Firm Used Only Two Factors of Production, Labor

Question 104

Multiple Choice

If a firm used only two factors of production, labor (L) and capital (K) , which of the following conditions would be present if the firm was minimizing its cost of production?


A) MPL ÷ PL = MPK ÷ PK
B) MPL × PL = MPK × PK
C) MRPL = MRPK
D) MPL = MPK

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