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 75 times)

unreallynx

  • Full Member
  • ***
  • Posts: 152
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 $50 per unit and the price of capital is $800 per unit. The MPL equals 60 and the MPK equals 1200. 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 unreallynx on Oct 12, 2022

Jim457

  • Full Member
  • ***
  • Posts: 187
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


unreallynx

  • Member
  • Posts: 152
Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

cam1229

  • Member
  • Posts: 329
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Your heart beats over 36 million times a year.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Galaxies Forming by Combining Smaller Units Galaxies Forming by Combining Smaller Units
Who Gets Executed? Gender Bias in Capital Punishment Who Gets Executed? Gender Bias in Capital Punishment
Large-scale circulation systems produce global climate patterns Large-scale circulation systems produce global climate patterns
Hydrogen burns to produce energy and water Hydrogen burns to produce energy and water
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Audiology

For a complete list of videos, visit our video library