Recent Posts • Latest Topics • Unanswered Questions

Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit ...

insherro

wrote...

Go to Answer

Posts: 671

Rep:

7 years ago

Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit ...

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

Edition: 3^rd

Author: Farnham

Read 135 times

1 Reply

Report

University of Ottawa - Economics for Managers

Replies

Answer verified by a subject expert

andyborzi

wrote...

Posts: 449

Rep:

7 years ago

More solutions for this book are available here

Report

Related Topics

insherro Author

wrote...

7 years ago

I appreciate what you did here, answered it right Smiling Face with Open Mouth

DaiwalkerX

wrote...

Yesterday

This site is awesome

africa143

wrote...

2 hours ago

This helped my grade so much Perfect

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1762 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

356

1026

468

Your Opinion

Previous poll results: Do you believe in global warming?

It's sore throat season, why does my mucus have red spots?

Strange Ingredients Lurking in Doritos Chips

Bonobos, Chimpanzees, and the 98% DNA Link

Courses by Biology Forums

The Toxic Skin and Fungi Defense

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.