Daffodil International University
Faculties and Departments => Business & Entrepreneurship => Business Administration => Topic started by: Md. Alamgir Hossan on March 14, 2016, 09:16:39 AM
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least-cost combination of resources: the quantity of each resource a firm must employ to produce a particular output at the lowest total cost the combination at which the ratio of the marginal product of a resource to its marginal resource cost (to its price if the resource is employed in a competitive market) is the same for the last dollar spent on each of the resources employed.