Business, 10.04.2020 03:18 justijust500
A)The ABC corporation employs labor and rents capital. The wage rate is $50 per day and the rental rate is $25 per day. Currently, the marginal product of the last worker employed is 300 units of output per day and the marginal product of capital is 200 units of output per day. Is the firm using the optimal combination of workers and machines?
B) If not, what should the firm do to maximize output or minimize costs?
Answers: 1
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A)The ABC corporation employs labor and rents capital. The wage rate is $50 per day and the rental r...
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