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Suppose that on the isocostcurve that allows you to minimize costs for a given level of production, the total cost is $8000, the y-intercept (on
Suppose that on the isocostcurve that allows you to minimize costs for a given level of production, the total cost is $8000, the y-intercept (on the K axis) is 400 and the x-intercept (on the L axis) is 200.Then we know from this information that the marginal rate of technical substitution atthecost-minimizingcombination of K and L must be(insert a whole number with no decimals)___________.
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