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April 20, 2014

Homework Help: Finance

Posted by Anonymous on Friday, April 13, 2012 at 6:37am.

The current market wage rate is $10, the rental rate of land is $1,000 per unit, and the rental rate of capital is $500. Production managers at a firm find that under their current allocation of factors of production, the marginal revenue product of labor is 100, the marginal revenue product of land is $10,000, and the marginal revenue product of capital is $4,000. Is the firm maximizing profit?

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