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

Author Question: A firm produces 5 units of output from the last dollar it spends on labor and 10 units from the last ... (Read 216 times)

lindiwe

  • Hero Member
  • *****
  • Posts: 577
on: Apr 19, 2019

Question 1

A firm is operating such that the marginal product of labor is 10 and the marginal product of capital is 20. The firm is minimizing its costs only if


◦ the wage is half the rental rate.
◦ the rental rate is half the wage.
◦ since capital is more productive than labor, the firm must be minimizing cost.
◦ Given this information the firm can't be minimizing cost under any circumstances.

Question 2

A firm produces 5 units of output from the last dollar it spends on labor and 10 units from the last dollar spent on capital. The firm should


◦ employ more labor and less capital.
◦ employ more capital and less labor.
◦ employ more capital and labor.
◦ employ less capital and labor.
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 lindiwe on Apr 19, 2019

samiel-sayed

  • Sr. Member
  • ****
  • Posts: 337
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


lindiwe

  • Hero Member
  • *****
  • Posts: 577
Reply #2 on: Apr 19, 2019
Thanks


samiel-sayed

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Apr 19, 2019
Welcome :)


« previous next »
 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Galaxies Forming by Combining Smaller Units Galaxies Forming by Combining Smaller Units
Using a gauge that measures vacuum in units of inches of water to test the vacuum at the dipstick ... Using a gauge that measures vacuum in units of inches of water to test the vacuum at the dipstick ...
Calculator Output Calculator Output
If y = 0.02 sin (30x - 400t) (SI units), the velocity of the wave is If y = 0.02 sin (30x - 400t) (SI units), the velocity of the wave is
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
Expressing amounts of energy in different energy units is necessary to solve many chemistry ... Expressing amounts of energy in different energy units is necessary to solve many chemistry ...
Video: Introduction to Sickle Cell Anemia

For a complete list of videos, visit our video library