Solved

Refer to the Following Graph

Question 18

Multiple Choice

Refer to the following graph.The price of capital r) is $20. Refer to the following graph.The price of capital r) is $20. If,at the optimal combination of inputs for producing 14,000 units of output,the marginal product of capital is 40,what is the marginal product of labor? A) 60 B) 40 C) 27.7 D) 80 E) impossible to tell from the graph If,at the optimal combination of inputs for producing 14,000 units of output,the marginal product of capital is 40,what is the marginal product of labor?


A) 60
B) 40
C) 27.7
D) 80
E) impossible to tell from the graph

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q6: A cow will produce 8500 lbs.of milk

Q13: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2562/.jpg" alt=" Given the above

Q16: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2562/.jpg" alt=" In the above

Q17: In the following graph,the price of capital

Q18: A firm is using 500 units of

Q19: In the following graph,the price of capital

Q21: Refer to the following graph.The price of

Q22: Refer to the following graph.The price of

Q23: Refer to the following graph.The price of

Q69: producer is hiring 20 units of labor