When profit maximizing, the MRTS of two inputs is equal to a. The ratio of marginal products of the inputs, but not the ratio of the prices of the inputs b. The price of the good being produced c. The ratio of the prices of the inputs, but not the ratio of marginal products of the inputs d. Both the ratio of marginal products of the inputs and the ratio of the prices of the inputs Clear my choice
When profit maximizing, the MRTS of two inputs is equal to a. The ratio of marginal products of the inputs, but not the ratio of the prices of the inputs b. The price of the good being produced c. The ratio of the prices of the inputs, but not the ratio of marginal products of the inputs d. Both the ratio of marginal products of the inputs and the ratio of the prices of the inputs Clear my choice
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
When profit maximizing, the MRTS of two inputs is equal to
a.
The ratio of marginal products of the inputs, but not the ratio of the prices of the inputs
b.
The price of the good being produced
c.
The ratio of the prices of the inputs, but not the ratio of marginal products of the inputs
d.
Both the ratio of marginal products of the inputs and the ratio of the prices of the inputs
Clear my choice
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