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Elucidate the optimal input choice of inputs.

The largo publishing house uses 400 printers and 200 printing presses to produce books. A printers wage rate is $20, and the price of the printing press is $5,000. The last printer added 20 books to the total output, while the last press added 1,000 books to the output. Is the publishing house making the optimal input choice? If not describe how should the manager adjust input usage?

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M923071

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