The marginal product of labor is 10 and the marginal, Ask an Expert

Economics

The marginal product of labor is 10 and the marginal product of capital is 20. If the wage rate is $10 and the price of capital is $5, is the firm using the right balance of capital and labor? Explain why or why not. If why not, which input should they use more of?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91915107

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