Question 7

A firm achieves least cost in production by substituting factors until

  • A.Their factor prices are equal
  • B.Their marginal physical product are each equal to their factor prices
  • C.Their marginal physical product are each zero
  • D.The ratio of their marginal physical product equals the ratio of their prices.
Objective

Question details

Exam body
FUTA
Subject
Economics
Year
2008/2009
Question no.
#7
Type
Objective

More from this paper

See all Economics 2008/2009 questions