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 tomatoes. Currently the marginal product of the ... (Read 102 times)

cmoore54

  • Hero Member
  • *****
  • Posts: 568
on: Apr 19, 2019

A firm hires labor, capital, and land to produce tomatoes. Currently the marginal product of the last unit of labor input is 20, the marginal product of the last unit of capital input is 30, and the marginal product of the last unit of land input is 100. The market wage is $10 and the market price for capital is $15. If the firm is using the optimal combination of inputs, then the price of land is


◦ $2.
◦ $20.
◦ $50.
◦ 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 cmoore54 on Apr 19, 2019

fwbard

  • Sr. Member
  • ****
  • Posts: 325
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


cmoore54

  • Hero Member
  • *****
  • Posts: 568
Reply #2 on: Apr 19, 2019
TY


fwbard

  • Sr. Member
  • ****
  • Posts: 325
Reply #3 on: Apr 19, 2019
You're welcome


« previous next »
 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

A single crossover cannot produce a viable recombinant A single crossover cannot produce a viable recombinant
Land mass looks like a synapse Land mass looks like a synapse
Durkheim believed that modern societies produce feelings of isolation, much of which come from the ... Durkheim believed that modern societies produce feelings of isolation, much of which come from the ...
Major Wind Systems: Sea and Land Breezes Major Wind Systems: Sea and Land Breezes
Plot of Land (Modified Offset Method) - Boxed Plot of Land (Modified Offset Method) - Boxed
Birds-eye view of land Birds-eye view of land
Video: Cell mediated immune response to a viral infection Animation

For a complete list of videos, visit our video library