A cost-minimizing firm

            If a unit of capital or labor becomes relatively cheaper, then a cost-minimizing firm will substitute toward the newly cheaper factor of production. Can you think of an example where this occurred in practice?

Unlock Your Academic Potential with Our Expert Writers

Embark on a journey of academic success with Legit Writing. Trust us with your first paper and experience the difference of working with world-class writers. Spend less time on essays and more time achieving your goals.

Order Now