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 396 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?

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?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

How genes produce proteins that determine traits in a simple dominant-recessive relationship. How genes produce proteins that determine traits in a simple dominant-recessive relationship.
Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant
Use the product rule to find derivative Use the product rule to find derivative
Find derivative using product rule Find derivative using product rule
A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ... A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ...
Plot of land (Part b) Plot of land (Part b)
Video: Oral Hygiene & Braces Animation

For a complete list of videos, visit our video library