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Home Q & A Board Other Fields Homework Help Business Economics
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hiusy98 hiusy98
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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. To minimize costs this firm should employ:
A) the existing combination of resources.
B) more labor and less capital.
C) more capital and less labor.
D) both more labor and more capital.
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Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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andyborziandyborzi
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7 years ago
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hiusy98 Author
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7 years ago
This course was so challenging before I signed up here, thanks
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