For a Firm with Only Two Inputs,capital and Labour,the Condition

question 107

Multiple Choice

For a firm with only two inputs,capital and labour,the condition MPK/MPL = PK/PL guarantees that the firm is

• A)at its profit-maximizing output but is not necessarily minimizing its costs.
• B)minimizing its costs but is not necessarily maximizing its profits.
• C)technically efficient but not economically efficient.
• D)economically efficient but not technically efficient.
• E)at its profit-maximizing and cost-minimizing level of output.

---

Definitions:

Physical Gender

The biological and anatomical characteristics that define individuals as male or female.

Demographic Variables

Characteristics of human populations used in market segmentation, such as age, gender, income, education, and occupation.

Traditional Families

Refers to a family structure commonly consisting of two parents and their children, emphasizing customary roles and values.

State of Alabama

A state located in the southeastern region of the United States, known for its rich history in civil rights movements and diverse physical geography.