Producer Is Hiring 20 Units of Labor and 6 Units

question 20

Multiple Choice

producer is hiring 20 units of labor and 6 units of capital (bundle A) .The price of labor is $10,the price of capital is $2,and at A,the marginal products of labor and capital are both equal to 20.The producer

• A)is using the optimal combination of capital and labor.
• B)should use more labor and less capital.
• C)should use more capital and less labor.
• D)cannot determine without more information.

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