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Home Q & A Board Other Fields Homework Help Business Economics
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apadong apadong
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7 years ago
A firm hires labor, capital, and land to produce tomatoes.  Currently the marginal product of the last unit of labor input is 20, the marginal product of the last unit of capital input is 30, and the marginal product of the last unit of land input is 100.  The market wage is $10 and the market price for capital is $15.  If the firm is using the optimal combination of inputs, then the price of land is
A) $2.
B) $20.
C) $50.
D) indeterminate from the given information.
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Akshtsaklani21Akshtsaklani21
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7 years ago
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4 years ago
thank you
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