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. AP_L = APK
III.
IV. MP_L × W = MP_K × R

Question

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. AP_L = APK
III.

IV. MP_L × W = MP_K × R

Quizplus · Accepted Answer

The Answer of 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. AP_L = APK III. IV. MP_L × W = MP_K × R A) I and II B) I, II, III, and IV C) IV D) I and III

Which of the Following Statements Is (Are) TRUE, Assuming the Firm