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Home Q & A Board Other Fields Homework Help Business Economics
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lpn27 lpn27
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A year ago
Suppose a firm is using 100 units of labour and 50 units of capital to produce 200 completed client tax returns per day. The price of labour is $5 per unit and the price of capital is $2 per unit. The MPL equals 5 and the MPK equals 2. In this situation, the firm

▸ should increase the use of both inputs.

▸ could lower its production costs by increasing labour input and decreasing capital input.

▸ is minimizing its costs.

▸ could lower its production costs by decreasing labour input and increasing capital input.

▸ should decrease the use of both inputs.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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cheesoslimocheesoslimo
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A year ago
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lpn27 Author
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A year ago
Thank you, thank you, thank you!
julymontalvo
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Yesterday
Correct Slight Smile TY
mikey3091
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2 hours ago
Thanks
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