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When the isocost line is tangent to the isoquant, then Select one: a. (MPL/L) (MPK/K) c. MPL=MPK d. (MPL/L)=(MPK/K)
When the isocost line is tangent to the isoquant, then
Select one:
a. (MPL/L)<(MPK/K)
b. (MPL/L)>(MPK/K)
c. MPL=MPK
d. (MPL/L)=(MPK/K)
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Economics of Money Banking and Financial Markets
Authors: Frederic S. Mishkin
12th edition
134733821, 134733827, 9780134734507 , 978-0134733821
