A manager hires labor and rents capital equipment in a very competitive market. Currently the wage rate is $7 per hour and capital is rented at $12 per hour. If the marginal product of labor is 50 units of output per hour and the marginal product of capital is 75 units of output per hour, should the firm increase, decrease, or leave unchanged the amount of capital used in its production process

the question using the following data, which show all available techniques for producing 20 units of a particular commodityresource resource prices possible production techniques#1 #2 #3 #4 #5land $4 2 4 2 4 4labor 3 1 2 4 1 3capital 3 5 2 3 1 2entrepreneurial ability 2 3 1 1 4 1assuming that the firm is motivated by self-interest and that the 20 units that can be produced with each technique can be sold for $2 per unit, the firm will

Amano s preguntes cationing to come fonds and consumer good 8. why did the u.s. government use rationing for some foods and consumer goods during world war ii?

Which of the following is one of the main causes of inflation? a. wages drop so workers have to spend a higher percentage of income on necessities. b. demand drops and forces producers to charge more to meet their costs. c. rising unemployment cuts into national income. d. consumers demand goods faster than they can be supplied.