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A manager is chekin packing can use either butchers (B) or (S) saws to prepare his packages. Ths firm's production function for this kind of packages is Q=S + B
a what is the margenal product of capital and labor?
b Does the answer to b depend on how much labor and capital are used?
d If the price of labor is $4 per hour and the rental rate of capital is $5/hour, how much of capital and labor should be used to minimize the cost of production?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9480323

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