Answer: The firm should minimize cost and always seek a mix of inputs, L and K,
such that the marginal products per dollar spent on each should be equal.
Explanation:
Spending one dollar less on capital will reduce output by capital's marginal product per dollar. But because the marginal product per dollar for labor is greater than that for capital, less than a dollar's worth of labor must be bought to achieve the desired output.
If a firm uses two inputs, labor and capital, that can be bought
at fixed prices P(L) and P(K). We can find (for any amounts of the inputs) the marginal
product of, say, L as the increase in output achieved from employing an extra unit of
labor, holding capital constant. The marginal product per dollar spent on labor is
therefore MP(L)/P(L). This is the increase in output the firm can achieve from spending
another dollar on labor. Similar definitions hold for capital.
Homebuyer nancy has made an offer to purchase a house and has plans to schedule a home inspection. Review the inspection report with her and discuss options for her agent assist her in relation to the home inspection.
A checkup is inspecting and evaluating something in order to check it. We might conduct an inspection to validate that a structure or business complies with certain requirements. The inspectors are responsible for making sure nothing is broken and that no one is in violation of the law. They must also confirm the safety of whatever they are inspecting.
The term "inspection" refers to the process of closely examining, testing, and gauging goods, products, or systems in the business world. The measurements and comparisons that inspectors make. The term "inspection" refers to systematic examinations or formal evaluations.
The inspectors decide if the item or material is in the right state and has the appropriate amount. Additionally, they decide if it complies with any local, state, federal, industry, business, or industry-specific norms and regulations.
Learn more about inspection here
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Answer:
Whenever congress and the president lock horns over a vital national interest, it is easy to declare "a pox on both their houses" and reflect fondly on those nonexistent days when government worked brilliantly. This time though the public mood is a little different. Self-defined libertarians, pseudo-anarchists, Tea partiers and other into national prominence by openly questioning the federal government's scope and role in America.
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