Business, 24.03.2020 02:08, tahmidtaj150
You know that the rental price of capital is $3,000, the rental price of land is $2,000, and the wage of labor is $100. The value of the marginal product produced by each factor is $30,000, $4,000, and $200, respectively. You would advise the company to hire more
A. labor.
B. land.
C. capital.
D. less labor and more land.
E. less capital and more labor.
Answers: 2
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You know that the rental price of capital is $3,000, the rental price of land is $2,000, and the wag...
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