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

Author Question: A firm produces 15 units of output from the last dollar it spends on labor and 10 units from the ... (Read 83 times)

genevieve1028

  • Hero Member
  • *****
  • Posts: 601
on: Apr 19, 2019

Question 1

A firm is operating such that the marginal product of labor is 48 and the marginal product of capital is 12. The firm is minimizing its costs only if


◦ the wage is one fourth the rental rate.
◦ the rental rate is one fourth 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 15 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 genevieve1028 on Apr 19, 2019

catron30

  • Sr. Member
  • ****
  • Posts: 297
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


genevieve1028

  • Hero Member
  • *****
  • Posts: 601
Reply #2 on: Apr 19, 2019
Thanks


catron30

  • Sr. Member
  • ****
  • Posts: 297
Reply #3 on: Apr 19, 2019
Welcome :)


« previous next »
 

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Faulty outlooping produces F?, an F plasmid that contains chromosomal DNA Faulty outlooping produces F?, an F plasmid that contains chromosomal DNA
Electron micrograph of pre-rRNA transcription units from the nucleolus of a frog Electron micrograph of pre-rRNA transcription units from the nucleolus of a frog
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 ...
Speciation produces new types of organisms Speciation produces new types of organisms
Because the factor h on the right side of the Heisenberg uncertainty principle has units of ... Because the factor h on the right side of the Heisenberg uncertainty principle has units of ...
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Video: Cardiac Cycle (Part 3 of 4)

For a complete list of videos, visit our video library