2008PearsonAddisonWesley.Allrightsreserved课件.pptVIP

* Minimizing Cost To minimize its cost of producing a given level of output, a firm chooses its inputs so that the marginal rate of technical substitution equals the negative of the relative input prices. (7.9) Because MRTS = - MPL/MPK (7.10-11) ? 2008 Pearson Addison Wesley. All rights reserved. 7-* Using Calculus to Minimize Cost Formally, the firm is minimizing its cost subject to the information in the production func