This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose a firm is using 1500 units of labour and 20 units of capital to produce 100 tonnes of ... (Read 56 times)

aeb093

  • Full Member
  • ***
  • Posts: 165
on: Oct 12, 2022
Suppose a firm is using 1500 units of labour and 20 units of capital to produce 100 tonnes of mineral ore. The price of labour is $40 per unit and the price of capital is $1000 per unit. The MPL equals 24 and the MPK equals 600. In this situation,
◦ the firm is minimizing its costs.
◦ the firm should increase the use of both inputs.
◦ the firm could lower its production costs by decreasing labour input and increasing capital input.
◦ the firm could lower its production costs by increasing labour input and decreasing capital input.
◦ the firm should decrease the use of both inputs.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by aeb093 on Oct 12, 2022

jojo120419

  • Full Member
  • ***
  • Posts: 158
Reply #1 on: Oct 12, 2022
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 50% of students answer this correctly


aeb093

  • Member
  • Posts: 165
Reply 2 on: Oct 12, 2022
Gracias!

nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

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.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

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.
Instructions for Completing the CMS-1500 (02/12) Claim Form Continued Instructions for Completing the CMS-1500 (02/12) Claim Form Continued
Instructions for Completing the CMS-1500 (02/12) Claim Form Continued Instructions for Completing the CMS-1500 (02/12) Claim Form Continued
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 ...
Air masses interact to produce weather Air masses interact to produce weather
How many grams of NO are required to produce 145 g of N2 in the following reaction? 4NH3 + 6NO ... How many grams of NO are required to produce 145 g of N2 in the following reaction? 4NH3 + 6NO ...
Video: Coronary Heart Disease Animation

For a complete list of videos, visit our video library