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?
- A. their prices are equal
- B. the ratio of their marginal -physical-products equals the ratio of their prices
- C. their marginal -physical-products are each equal to their factor prices
- D. their marginal -physical-products are each equal to zero
Correct Answer: B. the ratio of their marginal -physical-products equals the ratio of their prices
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