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hiusy98 hiusy98
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If the inputs to a production process are perfect substitutes and the marginal rate of technical substitution is equal to the ratio of the prices of the two inputs, the firm can choose from a virtually infinite array of combinations of the two inputs to minimize the costs of producing a given level of output.
Is this statement true or false, please advise
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Economics for Managers

Economics for Managers


Edition: 3rd
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toogootoogoo
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hiusy98 Author
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7 years ago
Project is complete now, thank you for your expertise!
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