heidiheffron9752 heidiheffron9752
  • 19-01-2021
  • Business
contestada

The price of labor is $1,000 per day, and the price of capital is $3,000 per day. To hire inputs in a cost-minimizing way, the firm should

Respuesta :

andromache andromache
  • 20-01-2021

Answer:

make no changes to the mix of inputs

Explanation:

Since in the question it is mentioned that the labor marginal product is 30 square feet and the capital marginal product is 90 square feet also the labor price is $1,000 and the capital price is $3,000 now to hire the inputs in order to minimize the cost the firm should not do any kind of changes with respect to the input mix

Answer Link

Otras preguntas

During the push-up test, how many form breaks can you get before your test is over?
What is the cost of a gallon of gasoline at a gasoline station where a sale of 6.8 gallons costs a customer $9.18?
Need help with this question
Which president gave the "Four Freedoms Speech" on January 6, 1941? A. Franklin D. Roosevelt B. Harry Truman C. Woodrow Wilson
I need help with this plz
34.85 + 14.91 tbh i have zero clue what im doing rn so plz help me​
the serialism and twelve tone system was primarily created by what composer?
Ben is buying a stereo that costs $889. if the tax rate in Ben's state is 4%, how much tax will he have to pay on the stereo?​
What are 20 chemicals and cigarettes
Use a number line to compare the numbers: -1.4 and - 1.1 Which shows the correct symbol to compare the numbers? O < O =