Which of the following conditions indicate cost minimization, assuming two inputs, labour (L) and capital (K)?
a) MPL = MPK
b) MPK/PL = MPL/PK
c) PK · MPK = PL · MPL
d) PK = PL
e) MPK/PK= MPL/PL
Ans: e) MPK/PK= MPL/PL
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