Which of the following statements is (are) TRUE, assuming the firm is choosing the optimal bundle of inputs that minimizes the cost of producing a given quantity of output?
I. The marginal product per dollar spent on labor equals the marginal product per dollar spent on capital.
II. APL = APK
III. 
IV. MPL × W = MPK × R
Definitions:
Great Britain
A sovereign state located off the north-western coast of continental Europe, comprising England, Scotland, and Wales.
Commercial Capitalism
An economic system characterized by private ownership of assets and a market-driven economy where goods are produced and sold for profit.
Financial Capitalism
An economic system where financial markets play a critical role in determining the allocation of capital, the pricing of assets, and the management of economic risks.
Industrial Capitalism
An economic and social system in which trade, industry, and capital are privately controlled and operated for profit.
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