Which of the Following Sets of Economic Data Is Minimizing

question 97

Multiple Choice

Which of the following sets of economic data is minimizing the cost of producing a given level of output?

• A) MP_L = 20, MP_K = 40, w = $16, r = $32.
• B) MP_L = 20, MP_K = 40, w = $32, r = $16.
• C) MP_L = 40, MP_K = 20, w = $16, r = $32.
• D) MP_L = 40, MP_K = 40, w = $16, r = $32.

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