Wednesday
April 23, 2014

Homework Help: eco

Posted by evon on Friday, October 5, 2007 at 12:24pm.

if the marginal product of capital of a firm is 120unit of output, rental price of machine is $30. and marginal product of labor is 40units of output, daily wages is $20.

1)why is this firm not maximizing output or minimizing cost in long run??

2)how can the firm max. output or min. cost?

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