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Author Question: A firm hires labor, capital, and land to produce tomatoes. Currently the marginal product of the ... (Read 120 times)

cmoore54

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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
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Marked as best answer by cmoore54 on Apr 19, 2019

fwbard

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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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cmoore54

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Reply #2 on: Apr 19, 2019
TY


fwbard

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Reply #3 on: Apr 19, 2019
You're welcome


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