A firm achieves least-cost in production by substituting factors until?

Economics JAMB 1990

A firm achieves least-cost in production by substituting factors until?

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

The correct answer is: B

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