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 41 times)

blinding37

  • Full Member
  • ***
  • Posts: 148
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 25 and the MPK equals 400. 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 blinding37 on Oct 12, 2022

senorfranco

  • Full Member
  • ***
  • Posts: 164
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


blinding37

  • Member
  • Posts: 148
Reply 2 on: Oct 12, 2022
Gracias!

kjohnson

  • Member
  • Posts: 330
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Furchgott's discovery that endothelial cells produce a vasodilating substance. Furchgott's discovery that endothelial cells produce a vasodilating substance.
IgM pentamer of immunoglobulin units IgM pentamer of immunoglobulin units
Units of Radiation Measurement Units of Radiation Measurement
Repeating Units of DNA and RNA Repeating Units of DNA and RNA
Baby labour position Baby labour position
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 ...
Video: Knee Animation

For a complete list of videos, visit our video library