Question: Choose one There are two inputs L and K with the price of each input w and r, respectively. When the isocost line is tangent

Choose one

Choose one There are two inputs L and K with the price

There are two inputs L and K with the price of each input w and r, respectively. When the isocost line is tangent to a strictly convex isoquant, then MR = MC 1. The firm is producing at the level of maximum revenue Il. The two inputs K and L are perfect substitutes V. The two inputs K and L are perfect complements O l is correct O Both II and Ill are correct O IV is correct None of the choices are correct

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