Suppose a Firm That Uses Labor and Capital as the Only

question 71

Multiple Choice

Suppose a firm that uses labor and capital as the only inputs in production is currently on the long-run expansion path.The marginal product of labor and capital at this least cost combination are 60 units and 80 units respectively and the wage rate of labor is $6.Calculate the rental cost of capital borne by the firm.

• A)$10
• B)$8
• C)$5
• D)$12

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Definitions:

Genes

Segments of DNA located on chromosomes that contain the instructions for the development, functioning, and reproduction of organisms.

Short Tandem Repeat

DNA sequences consisting of a few nucleotides repeated multiple times in a row, used in genetic mapping and fingerprinting.

Polymerase Chain Reaction

A laboratory technique used to amplify segments of DNA for various genetic analyses and applications.

DNA Fingerprinting

A technique used to identify individuals by examining their DNA characteristics, often used in forensic science.