100+ Total output 37 28 PowerPoint (PPT) Presentations, Total output 37 28 PPTs

Total output 37 28 - PowerPoint PPT Presentation

Least Cost Rule

Least Cost Rule. When the last dollar spent on each resource yields the same marginal product. Least Cost Rule. That is the cost of any output is minimized when the ratios of marginal product to price of the last units of resources used are the same for each resource. Least Cost Rule.

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Total output 37 28 - PowerPoint PPT Presentation

Least Cost Rule