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[answered] 14. If the MPP of the last unit of labor hired equals 16 an


14. If the MPP of the last unit of labor hired equals 16 and the MPP of the last unit of capital hired equals 8, and the price of labor is $4 per unit and the price of capital is $4 per unit, then: a. the ?rm is minimizing its costs with this combination of factors b. the ?rm is minimizing its pro?ts with this combination of factors c. the ?rm should hire more labor and less capital in order to minimize its costs. d. the ?rm should hire more capital and less labor in order to minimize its costs. e. a and b
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