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

question 41

Multiple Choice

-Which of the following is true of point c 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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Definitions:

Scientific Notation

A way of expressing numbers that are too big or too small to be conveniently written in decimal form, using powers of 10.

Value

A piece of data or information that can be stored in a variable, passed as a parameter, or returned by a method in programming.

Invalid Identifier

A term used in programming for a name that does not follow the defined naming conventions or rules for identifiers.

Java

A class-based, high-level object-oriented programming language built to minimize implementation dependencies as much as possible.