Draw an isoquant curve with an isocost curve where the following conditions hold? MRTS = MP/MPK = PL/PK MPL/PL = MPK/PK
Posted: Mon Apr 18, 2022 9:15 am
Draw an isoquant curve with an isocost curve where the following conditions hold? MRTS = MP/MPK = PL/PK MPL/PL = MPK/PK Marginal product per dollar spent should be the same for all inputs ie MP/Pa = MP/Pb = = MP/P. . .