Firm to minimize costs with more than factor of production

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Reference no: EM13996065

For a firm to minimize its costs with more than one factor of production, for every factor, the

ratio of the marginal product to factor price must be equal.

marginal revenue product to factor price must be equal.

marginal revenue product to output must be equal.

marginal cost to factor price must be equal.

Reference no: EM13996065

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