Answered

Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

a manufacturer of toys is employing fifty workers and using fifteen pieces of equipment to assemble toys. currently, the marginal product of labor is $5 and the marginal product of capital is $25. assuming the market prices for labor and capital are $12 and $20 respectively, answer the following: a) is this firm maximizing its profit? b) what should this firm do with respect to its employees and its use of equipment?

Sagot :

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.