(Answered) Fill in the blanks1 suppose this firm is using capital and

Economics

Fill in the blanks:

1. Suppose this firm is using capital and labour such that the MP Subscript Upper K is equal to 90 and the MP Subscript Upper L is equal to 180. If the prices per unit of capital and labour are ?$5 and ?$30, respectively, this firm _____(is not minimizing, is minimizing) its costs. The following substitution should be? made ____(no substitution is required, use more L and less K, use more K and less L)

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Business Economics, Economics

Category:- Business Economics
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