Top Posters
Since Sunday
y
2
s
2
2
a
1
w
1
w
1
i
1
m
1
s
1
c
1
k
1
1
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
insherro insherro
wrote...
Go to Answer
Posts: 671
Rep: 5 0
7 years ago
Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last unit of labor is 10. Is this firm minimizing its costs of producing 500 units of output?
A) No, because the marginal products of the two inputs are not equal.
B) No, because the MRTS and the price ratio for the two inputs are not equal.
C) No, because the prices of the two inputs are not equal.
D) The answer cannot be determined without more information.
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
Read 127 times
1 Reply
University of Ottawa - Economics for Managers
Replies
Answer verified by a subject expert
andyborziandyborzi
wrote...
#1
Posts: 449
Rep: 13 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

insherro Author
wrote...

7 years ago
Just got PERFECT on my quiz
Lourd Jenkins
wrote...

Yesterday
this is exactly what I needed
bahajo
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  968 People Browsing
 160 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 248
  
 287
  
 283
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 405
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?