Answer:
a. No, the firm is not minimizing the cost of production.
b. The firm should continue to increase the units of labor by reducing the unit of capital until when the ratio of Marginal product of labor to Marginal product of capital of is equal to the ratio of w to r.
Explanation:
a. Is the firm minimizing the cost of production?
The firm minimizing the cost of production where:
Marginal product of labor / Marginal product of capital = w / r
From the question, we have:
40 / 28 = 6 / 3
1.43 = 2
Since the ratio of Marginal product of labor to Marginal product of capital of 1.43 is not equal to the ratio of w to r, the firm is not minimizing the cost of production.
b. What should the firm do, if anything, to produce the same level of output at lower cost?
The firm should continue to increase the units of labor by reducing the unit of capital until when the ratio of Marginal product of labor to Marginal product of capital of is equal to the ratio of w to r.
The closest point at which this will happen is when the Marginal product of labor is 45 and Marginal product of capital is 23 where we have:
45 / 23 = 1.96, or 2 approximately.
Answer:
decreasing
Explanation:
because more and more machines are made to do work
Answer:
Explanation:
The most important reason for organizations to rely on research is that it ultimately provides the organization with insight on how a specific decision will perform in the target market and what effects it will have on the company. This is because research provides valuable information such as a target population's interests, hobbies, spending behaviors, needs, likes/dislikes, etc. All of which are factors that help determine if that population will buy a certain product and increase the organizations revenue.
This is a question of random questions about your preferences and decision making, which can be a tool for identifying your personality traits.
<h3 /><h3>Why is personality traits important?</h3>
Personality corresponds to the set of psychological characteristics that a person can develop through their experiences and learning. Through such characteristics, the individual develops patterns of thought and behavior that will influence his social and professional life.
Therefore, in the academic and professional environment, there may be instruments such as tests and interviews to identify the individual's personality and greater understanding of their actions and motivations.
Find out more about personality traits here:
brainly.com/question/7375078
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Answer:
(0)Sweeps, (1)being, (2)surprising, (3)has developed, (4)tourist, (5)is blessed, (6)rolling, (7)to step, (8)changed.
Explanation:
The use of the correct form of the words refers to using or changing the given words in such a way that they correspond to the noun(s) or subjects in the sentence. This will also enable the correct construction of the sentences in a perfect and corresponding form of tenses.
The verbs given in parenthesis in the given passage will be changed accordingly as given below-
Rising from the sea like a goddess, the island nation of Cyprus sweeps you off your feet with ancient monuments. Cyprus has the distinction of being the birthplace of Aphrodite-- Goddess of Love and beauty. With such a legendary background, it is hardly surprising that Cyprus has developed into a tourist destination. It is blessed with natural beauty that ranges from golden beaches to rolling hills.
To walk through its old streets is <em><u>to step</u></em> backwards in time. Old houses with ornate balconies peep from weather-beaten walls, and craftsmen in small workshops practice trades, which have not <em><u>changed</u></em> for centuries.
