Which of the following conditions specify the least cost-output combination?
A. PL/Pk = MRTS
B. PL/Pk = MPL/MPk
C. MPk/MPL = dL/dK
D. All the above
Answer:D
Which of the following conditions specify the least cost-output combination?
A. PL/Pk = MRTS B. PL/Pk = MPL/MPk C. MPk/MPL = dL/dK D. All the above