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Business, 22.11.2019 01:31 lilinicholeb

Afirm uses 80 hours of labor and 6 units of capital to produce 10,000 gadgets per day. labor's marginal product is 4 gadgets per hour and the marginal product of capital is 20 gadgets per unit. each unit of labor costs $8 per hour and each unit of capital costs $50 per unit. if the firm wants to continue producing 10,000 gadgets per day at the lowest possible cost, it should a. use less of both inputs. b. use more labor and less capital. c. use more capital and less labor. d. continue using 80 hours of labor and 6 units of capital.

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Afirm uses 80 hours of labor and 6 units of capital to produce 10,000 gadgets per day. labor's margi...
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