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Author Question: Suppose capital costs $10 per unit and labour costs $4 per unit. If the marginal product of capital ... (Read 54 times)

emoedee

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on: Oct 12, 2022

Question 1

Suppose capital costs $280 per unit and labour costs $16 per unit. For a profit- maximizing firm operating at its optimal factor mix, if the marginal product of capital is 70, the marginal product of labour must be
◦ 8.
◦ 4.
◦ 6.
◦ 16.
◦ 12.

Question 2

Suppose capital costs $10 per unit and labour costs $4 per unit. If the marginal product of capital is 50 and the marginal product of labour is 50, the firm should ________ in order to minimize its costs of producing its output.
◦ not change its current factor use
◦ employ less capital and more labour
◦ employ less capital and labour
◦ employ more capital and less labour
◦ employ more capital and labour
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by emoedee on Oct 12, 2022

nikspatel037

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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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emoedee

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Reply 2 on: Oct 12, 2022
Excellent

apple

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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