How to calculate minimization of cost when given the marginal revenue

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asked Apr 27, 2023 131k views

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SugaKookie · Answer 1 · 2023-05-02T13:49:52+0000

Answer: Cost is minimized at the levels of capital and labor such that the marginal product of labor divided by the wage (w) is equal to the marginal product of capital divided by the rental price of capital (r)

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How to calculate minimization of cost when given the marginal revenue

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