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Author Question: A firm produces 15 units of output from the last dollar it spends on labor and 10 units from the ... (Read 80 times)

genevieve1028

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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
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Marked as best answer by genevieve1028 on Apr 19, 2019

catron30

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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.
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genevieve1028

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Reply #2 on: Apr 19, 2019
Thanks


catron30

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Reply #3 on: Apr 19, 2019
Welcome :)


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