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Cost minimising combination of inputs sets

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If a firm uses only capital and labour, show why the cost minimising combination of inputs sets:

MPK = PK

MPL PL

Diagrams are essential. It is impossible to produce a good answer to these questions without using a well-chosen, and well-drawn, diagram. Do not simply present a diagram without carefully explaining it in the text. Use diagrams to save words and explain them to illustrate your answer

Reference no: EM13903642

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