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 grapefruits. Currently the marginal product of the ... (Read 497 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
on: Apr 19, 2019

A firm hires labor, capital, and land to produce grapefruits. Currently the marginal product of the last unit of labor input is 40, the marginal product of the last unit of capital input is 60, and the marginal product of the last unit of land input is 200. The market wage is $20 and the market price for capital is $30. If the firm is using the optimal combination of inputs, then the price of land is


◦ $4.
◦ $40.
◦ $100.
◦ 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 ap345 on Apr 19, 2019

EAN94

  • Sr. Member
  • ****
  • Posts: 307
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


ap345

  • Hero Member
  • *****
  • Posts: 537
Reply #2 on: Apr 19, 2019
Thanks


EAN94

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Apr 19, 2019
Welcome :)


ralphy073

  • Newbie
  • *
  • Posts: 1
Reply #4 on: Dec 3, 2019
Thank you


Kassi Kazimer

  • Newbie
  • *
  • Posts: 2
Reply #5 on: Mar 6, 2020
Thank you


« previous next »
 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Stages of Labor Stages of Labor
The primary response causes B cells to produce memory B cells and a few antibodies. The second ... The primary response causes B cells to produce memory B cells and a few antibodies. The second ...
An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ... An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ...
GDP and Capital per Worker, 2009 GDP and Capital per Worker, 2009
Sea and Land Breezes Sea and Land Breezes
Floral components. Anthers produce pollen and ovules produce eggs. Floral components. Anthers produce pollen and ovules produce eggs.
Video: Coaductile pathway, Timing of contraction signal & Conduction system and ECG

For a complete list of videos, visit our video library