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Author Question: Suppose a firm is using 1500 units of labour and 20 units of capital to produce 100 tonnes of ... (Read 63 times)

unreallynx

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on: Oct 12, 2022
Suppose a firm is using 1500 units of labour and 20 units of capital to produce 100 tonnes of mineral ore. The price of labour is $50 per unit and the price of capital is $800 per unit. The MPL equals 60 and the MPK equals 1200. In this situation,
◦ the firm is minimizing its costs.
◦ the firm should increase the use of both inputs.
◦ the firm could lower its production costs by decreasing labour input and increasing capital input.
◦ the firm could lower its production costs by increasing labour input and decreasing capital input.
◦ the firm should decrease the use of both inputs.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by unreallynx on Oct 12, 2022

Jim457

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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unreallynx

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

elyse44

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Reply 3 on: Yesterday
Wow, this really help

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