-Which of the Following Is True of Point a in Exhibit

question 8

Multiple Choice

-Which of the following is true of point a in Exhibit 7-17?

• A) The MRTS of labor for capital is equal to the ratio of the wage rate to the price of capital.
• B) The MRTS of labor for capital is less than the ratio of the wage rate to the price of capital.
• C) The firm would be producing its output at the lowest possible cost.
• D) The MRTS of labor for capital is greater than the ratio of the wage rate to the price of capital.
• E) The ratio of the marginal product of labor to the price of capital is equal to the ratio of the wage rate to the price of capital.

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