A firm achieves least cost in production by substituting factors until

Economics JAMB 1986

A firm achieves least cost in production by substituting factors until

  • their factor prices are equal
  • their marginal-physical products are each equal to their factor prices
  • their marginal-physical products are each zero checkmark
  • the ratio of their marginal-physical products equals the ratio of their prices

The correct answer is: C

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn.
Previous Question Next Question

Leave A Comment