Applying the Least-Cost Rule to Two Factors, a Firm Will

question 166

Multiple Choice

Applying the least-cost rule to two factors, a firm will

• A)maximize profits at the output at which MRP = MFC.
• B)minimize costs when the MPP of factor A equals the MPP of factor B.
• C)minimize costs when the MRP of factor A equals the MRP of factor B.
• D)minimize costs when the MPP of factor A divided by the price of A equals the MPP of factor B divided by the price of B.

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Definitions:

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Fatuous Love

A type of love defined by the presence of passion and commitment but lacking in intimacy, part of Robert Sternberg's triangular theory of love.

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