If at the current level of production the marginal product of labor is 4 while the marginal product of capital is 2 then in order to minimize your costs of production you should use:

Question

Quizplus · Accepted Answer

Since the marginal product of labor is higher than the marginal product of capital, it is more cost-efficient to use more capital and less labor. This will lead to reducing costs while maintaining the same level of production.

If at the Current Level of Production the Marginal Product