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Home Q & A Board Other Fields Homework Help Business Economics
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Ryanteck Ryanteck
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6 years ago
A firm is operating such that the marginal product of labor is 10 and the marginal product of capital is 20.  The firm is minimizing its costs only if
A) since capital is more productive than labor, the firm must be minimizing cost.
B) the rental rate is half the wage.
C) the wage is half the rental rate.
D) Given this information the firm can't be minimizing cost under any circumstances.
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goldlilysgoldlilys
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6 years ago
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Ryanteck Author
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6 years ago
this is exactly what I needed
gma_of_7
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Yesterday
Smart ... Thanks!
Cdfields
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2 hours ago
Thanks
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