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Frost Frost
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5 years ago
If the marginal product of labor is 45 units of output and the marginal product of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $28 per machine, are these two inputs being used in the least-cost combination and what should be done if they are not?
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Microeconomics

Microeconomics


Edition: 7th
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BobbyDBobbyD
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#1
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5 years ago
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Frost Author
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5 years ago
Smart ... Thanks!
Transonic
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Yesterday
this is exactly what I needed
bkrandy
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2 hours ago
Brilliant ツ
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