This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A firm hires labor, capital, and land to produce grapefruits. Currently the marginal product of the ... (Read 509 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
on: Apr 19, 2019

A firm hires labor, capital, and land to produce grapefruits. Currently the marginal product of the last unit of labor input is 40, the marginal product of the last unit of capital input is 60, and the marginal product of the last unit of land input is 200. The market wage is $20 and the market price for capital is $30. If the firm is using the optimal combination of inputs, then the price of land is


◦ $4.
◦ $40.
◦ $100.
◦ indeterminate from the given information.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by ap345 on Apr 19, 2019

EAN94

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Apr 19, 2019
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.
Answer Preview
Only 25% of students answer this correctly


ap345

  • Hero Member
  • *****
  • Posts: 537
Reply #2 on: Apr 19, 2019
Thanks


EAN94

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Apr 19, 2019
Welcome :)


ralphy073

  • Newbie
  • *
  • Posts: 1
Reply #4 on: Dec 3, 2019
Thank you


Kassi Kazimer

  • Newbie
  • *
  • Posts: 2
Reply #5 on: Mar 6, 2020
Thank you


« previous next »
 

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital" Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital"
Examples of the most common X-ray positions and the images they produce. Examples of the most common X-ray positions and the images they produce.
The proportion of adults 55 to 64 in the labor force in Germany, Italy, and France is low and has ... The proportion of adults 55 to 64 in the labor force in Germany, Italy, and France is low and has ...
Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ... Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ...
Product safety Product safety
Video: Blood Test Basics

For a complete list of videos, visit our video library