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Title: What is the last dollar rule for cost-minimization? Provide a brief explanation (in words) as well ... Post by: MrsAngelD on Nov 12, 2017 What is the last dollar rule for cost-minimization? Provide a brief explanation (in words) as well as the corresponding mathematical equality. If the firm is producing at a point where the isocost line is steeper than the isoquant, what does the last dollar rule imply (i.e., where is the last dollar most productive, L or K) and how should the firm alter its capital and labor in the long run?
Title: Re: What is the last dollar rule for cost-minimization? Provide a brief explanation (in words) as ... Post by: Rumko on Nov 12, 2017 Content hidden
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