A Firm Achieves Least-Cost in Production by Substituting Factors Until

question 6

Multiple Choice

A firm achieves least-cost in production by substituting factors until their:

• A)factor prices are equal.
• B)marginal products are equal.
• C)marginal products are each equal to their factor prices.
• D)marginal products are each zero.
• E)none of the above are true.

---

Definitions:

Surveying Teams

The act of examining and measuring team structures and dynamics to assess performance and areas for improvement.

X-Team Cycle

A framework for managing external teams that emphasizes the importance of external engagement, exploration, and execution for achieving high performance.

Exploration

The act of investigating or traveling through new areas to learn about them or discover resources.

Exploitation

The action or fact of treating someone unfairly in order to benefit from their work or resources.