Suppose a firm is using 25 workers and 10 units of capital. Workers are paid $15 and capital costs $120. The last worker adds 15 units to output. The last unit of capital adds 75 units to output. Should the manager make any changes to the inputs? Show your math and explain why or why not.
Suppose a firm is using 25 workers and 10 units of capital. Workers are paid $15 and capital costs $120. The last worker adds 15 units to output. The…
Looking for a Similar Assignment? Our Experts can help. Use the coupon code SAVE30 to get your first order at 30% off!
