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 34 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
Excellent

miss.ashley

  • Member
  • Posts: 371
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

How to convert between imperial and metric units (Part 1) How to convert between imperial and metric units (Part 1)
Farmers’ markets provide fresh, local produce to consumers Farmers’ markets provide fresh, local produce to consumers
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Because the factor h on the right side of the Heisenberg uncertainty principle has units of ... Because the factor h on the right side of the Heisenberg uncertainty principle has units of ...
Energy and Energy Units Energy and Energy Units
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: Component of feedback systems & Communication and regulation of body systems

For a complete list of videos, visit our video library