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Unformatted text preview: 4. Slope of the isocost? (see notes in binder) E. Finding the Lease Cost Method of Production (See binder) At Cost minimization: o The productivity from the last dollar spent on Labor (L) is equal to the productivity from last dollar spent on Capital (K). o If we the cost minimization rule is not satisfied, then we need to change our allocation of inputs....
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This note was uploaded on 04/15/2008 for the course ECON 100 taught by Professor Stephaniemartin during the Fall '07 term at Allegheny.
- Fall '07