A firm achieves least cost in production by substituting factors until
Question
A firm achieves least cost in production by substituting factors untilOptions
A)
their factor prices are equal
B)
their marginal-physical products are each equal to their factor prices
C)
their marginal-physical products are each zero
D)
the ratio of their marginal-physical products equals the ratio of their prices
Related Lesson: Key Concepts and Summary | Cost and Industry Structure
The correct answer is C.
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