Suppose the marginal product of capital

Assignment Help Business Economics
Reference no: EM13798135

Suppose the marginal product of capital is 16 and the marginal product of labor is 3. If the price of capital is $4 and the wage rate is $3, then in order to minimize costs the firm should use:

more capital and less labor.

more labor and less capital.

three times more capital than labor.

none of the answers are correct.

Reference no: EM13798135

Questions Cloud

Absolute value of the own price elasticity of demand : When the absolute value of the own price elasticity of demand is zero, demand is:
Absolute value of the own price elasticity of demand is zero : When the absolute value of the own price elasticity of demand is zero, demand is:
Limitations on foreign investment : Foreign investment laws often limit the percentage of equity that foreigners may own in local businesses. Even when this is the case, however, exceptions are sometimes made to attract capital to selected industries, and sometimes as a matter of ad..
Consumer surplus decreases : Other things held constant, consumer surplus decreases as:
Suppose the marginal product of capital : Suppose the marginal product of capital is 16 and the marginal product of labor is 3. If the price of capital is $4 and the wage rate is $3, then in order to minimize costs the firm should use:
The market supply curve is the curve that summarizes : The market supply curve is the curve that summarizes:
Why is nursing job of the future in regards to flexibility : Why is nursing the job of the future in regards to flexibility, income, and saving of lives?
The main reason firms may exit a market : The main reason firms may exit a market is because of:
More expensive bundles of inputs are associated with : For given input prices, more expensive bundles of inputs are associated with:

Reviews

Write a Review

Business Economics Questions & Answers

  An economic naturalist is described as someone who

Sally earned $25,000 per year before she became a mother. After she became a mother, she told her employer that she would not be willing to work for anything less than $50,000. Her decision is based on

  Qif the demand curve for wheat in the united states is p124

q.if the demand curve for wheat in the united states is p12.4 - qd where is the p is the farm price of wheat in dollars

  Semiconductor manufacturing involves taking a flat disc

Semiconductor manufacturing involves taking a flat disc of silicon, called a wafer, and depositing many layers of material on top of it. Each layer has a pattern on it that, upon completion, defines the electrical circuits of the finished microproces..

  Why would a country such as the united states which can

Why would a country such as the United States, which can presumably produce everything it needs itself, choose to trade with other nations?

  Newly issued mortgage backed security

Assume a bank purchases a newly issued mortgage backed security (MBS) for $1,000. After the year, the value of the MBS has decreased to $750:

  Qcountry economic analysis report country is indiafor the

q.country economic analysis report country is indiafor the most current year collect the subsequent data1 gdp you may

  Reallocate her expenditures between the two goods

how should she reallocate her expenditures between the two goods

  World also changed the competitive situation

State Explain how IKEAs expansion has reenergized mature markets around the world also changed the competitive situation.

  Do you find the most important aspect of our economy that

Do you find the most important aspect of our economy that needs to be fixed is the budget deficit?

  Natural rate of unemployment

Where does the national unemployment rate stand relative to the Natural Rate of Unemployment

  Current equilibrium price for personal computers

Assuming the most typical shapes of the demand and supply curves, which of the following could lead to an increase in the current equilibrium price for personal computers?

  Find out goods that lie near these extremes

find out goods that lie near these extremes. Characterize demands for the following goods as being near perfectly elastic or near perfectly inelastic.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd