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Q1. A dry cleaner currently has 10 workers also 4 machines. The workers' wage rate is $300 every worker also the rental rate for a machine is $500. The last worker added 600 units to total output. Assuming that the marginal product of labor is constant between 10 also 11 workers also the marginal product of capital is constant between 3 also 4 machines. If the dry cleaner utilizes 11 workers also 3 machines instead, then

Q2. if the prevailing marketplace price is $16 every unit, Elucidate how much should the industry produce?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9170711

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