A firm produces output with capital and labor. Suppose currently the marginal product of labor is 14 and the marginal product of capital is 3. Each unit of labor costs $10 and each unit of capital costs $3. Is the firm minimizing the cost of production? Explain. Let MPk be the marginal product of capital, MP, be the marginal product of labor, r be the price of capital, w be the cost of labor, and MRTS be the marginal rate of technical substitution. The firm is MPK MP O A. minimizing the cost of production because r W MPK O B. minimizing the cost of production because MRTS = MPL MPK MP O C. not minimizing the cost of production because MP