Business, 22.12.2020 18:30, jrenwick001
A firm employs 100 workers at a wage rate of $15 per hour, and 50 units of capital at a rate of $20 per hour. The marginal product of labor is 30, and the marginal product of capital is 25. The firm Group of answer choices none of these options is correct is producing its current output level at the minimum cost. could increase its output at no extra cost by employing more capital and less labor. could reduce the cost of producing its current output level by employing more labor and less capital. could reduce the cost of producing its current output level by employing more capital and less labor.
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A firm employs 100 workers at a wage rate of $15 per hour, and 50 units of capital at a rate of $20...
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