Marginal output, economics, Microeconomics

Assignment Help:
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $28 per machine, are these two outputs being used at the least cost combination and what should be done if they are not?

Related Discussions:- Marginal output, economics

Matlab, How do I do I use affsolve?

How do I do I use affsolve?

Change in consumer taste, Change in consumer Taste/preference: Any chang...

Change in consumer Taste/preference: Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to inc

Macroeconomics, Consider the following: The city council has just approved ...

Consider the following: The city council has just approved the construction of a water park in your town. You are responsible for studying the impact of the new water park on the l

Calculate the elasticity of pollution demand, 1.  The marginal benefit (dem...

1.  The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons.  The current emissions tax (price) for pollution is $40/ton.  Regu

Minimum welfare level for the poorest senior household, Consumer Behavior: ...

Consumer Behavior: The government considers different calculations to help senior citizens with their increasing heating bills. One proposal on the table is to pay 20% of senio

Why is capital formation important in economic growth, Capital make large s...

Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o

Steps of the basic analytical framework in modern economics, What are the s...

What are the steps of the basic analytical framework in Modern Economics? Framework is very significant to master this fundamental analytical framework, particularly, these fiv

Market Penetration, Market Penetration: Indian entrepreneurs have to ...

Market Penetration: Indian entrepreneurs have to constantly bear in mind the fast changing trade trends and re-orient their strategies to derive higher yields by way of large

Lending operations of world bank, Lending Operations of World Bank: Re...

Lending Operations of World Bank: Resources of the Bank consist of the capital and borrowings. The capital of the bank is contributed by its 184 member-countries. Besides,

Write Your Message!

Captcha
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