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Question 10 Draw an isoquant curve with an isocost curve where the following conditions hold? MRTS MP/MPK = P/PK .MP/P MP/PK Marginal product per
Question 10 Draw an isoquant curve with an isocost curve where the following conditions hold? MRTS MP/MPK = P/PK .MP/P MP/PK Marginal product per dollar spent should be the same for all inputs = ie MP/P, MP/P = = MP.JP
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
