Attributed to Libby Rittenberg and Timothy Tregarthen Saylor.orgcorresponds to diseconomies of scale, what is happening to the cost per knife?. marginal product of labor is 20.. If the p
Trang 1Attributed to Libby Rittenberg and Timothy Tregarthen Saylor.org
corresponds to diseconomies of scale, what is happening to
the cost per knife?
marginal product of labor is 20 If the price of capital is $6 and the
price of labor is $2.50, how should the firm adjust its mix of capital
and labor? What will be the result?
9 A firm minimizes its costs by using inputs such that the marginal
product of labor is 10 and the marginal product of capital is 20 The
price of capital is $10 per unit What must the price of labor be?
capital is $20 per unit
1 Assuming the firm is minimizing its cost, if the marginal
product of labor is 50, what must the marginal product of
capital be?
the price of labor stays the same To minimize the cost of
producing the same level of output, would the firm become
more capital-intensive or labor-intensive? Explain