If There Are Two Factors Used in Producing a Good

question 168

Multiple Choice

If there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when

• A)the MPP of the first factor divided by its price is equal to the MPP of the second factor divided by its price.
• B)the MPP of the first factor multiplied by its price is equal to the MPP of the second factor minus its price.
• C)the MPP of the first factor divided by the price of the second factor is equal to the MPP of the second factor divided by the price of the first factor.
• D)the MPP of the second factor minus the MPP of the first factor is equal to the price of the second factor minus the price of the first factor.
• E)none of the above

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