A Business Is Employing Inputs Such That the Marginal Product

question 116

Multiple Choice

A business is employing inputs such that the marginal product of labor is 40 and the marginal product of capital is 90.The price of labor is $20, and the price of capital is $30.If the business wants to minimize costs while keeping output constant, then it should

• A)use more labor and less capital.
• B)use less labor and less capital.
• C)use less labor and more capital.
• D)make no change in resource use.

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Definitions:

Home Care Documentation

Records and documents related to the provision of care services to patients in their homes by healthcare professionals.

Standardized Terminology

A consistent set of terms and definitions specifically designed for use within a particular field or profession to ensure clear communication and understanding.

Home Health Clients

Individuals who receive medical care and treatment in their own homes from healthcare professionals.

Home Visits

Practices where healthcare professionals provide services in a patient's home to assess health needs, provide treatment, or offer education.