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FromTheMoon [43]
3 years ago
12

A firm hires labor, capital, and land to produce grapefruits. currently the marginal product of the last unit of labor input is

40, the marginal product of the last unit of capital input is 60, and the marginal product of the last unit of land input is 200. the market wage is $20 and the market price for capital is $30. if the firm is using the optimal combination of inputs, then the price of land is
Business
1 answer:
umka21 [38]3 years ago
6 0

Answer:

$100

Explanation:

the marginal product per dollar spent on labor = 40 units / $20 = 2 units per dollar

the marginal product per dollar spent on capital = 60 units / $30 = 2 units per dollar

the marginal product per dollar spent on land = 2 = 200 / $X

$X = 200 / 2 = 100 ⇒ the cost per unit of land is $100

The marginal product per dollar spent on a factor of production (labor, capital or land) is MP(factor)/P(factor). It measures how many additional units of output can be obtained by spending $1 more in a factor of production.

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Olegator [25]

Answer:

yo mama

Explanation:

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3 years ago
Celebrities and famous individuals often make __________, or positive statements, about a product based on their personal experi
Alenkasestr [34]

Answer:

It might be endorsement.  

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8 0
3 years ago
In 2019, Joan accepted and received a $10,000 award for outstanding civic achievement. Joan was selected without any action on h
Daniel [21]

Answer:

A) $0

Explanation:

If the award was unsolicited and given to Joan in recognition for her accomplishments in scientific, educational, literary, religious, artistic, or civic fields, then the award is not taxed.

The unsolicited part is the key here, since most awards are given to candidates that have been previously been nominated by someone, e.g. Nobel prizes are only given to nominated candidates and the winners must pay income taxes.

5 0
3 years ago
You need some money today and the only friend you have that has any is your miserly friend. He agrees to loan you the money you
Serggg [28]

Answer:

The correct option is (b)

Explanation:

Given:

Monthly payment for 6 months = $30 per month

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Monthly interest rate = 2%

In order to compute borrowed amount, present value of these payments need to be computed which is an annuity as same amount of $30 is paid.

Checking PVIFA table for 2%, 6 periods, annuity factor is 5.6014.

Borrowed amount = Monthly payment × PVIFA(2%,6)

                            = 30 × 5.6014

                            = $168.042

Borrowed amount is $168.042 or $168.22 approximately (difference in value due to annuity factor being rounded off)

                         

6 0
3 years ago
g An increase in demand is represented by a a. movement downward and to the right along a demand curve. b. movement upward and t
Lana71 [14]

Answer: c. rightward shift of a demand curve.

Explanation:

When there is movement along the demand curve, this is due to a change in the price of the good.

However, an increase in demand is noted by a rightward shift in the Demand curve. This is to signify that the demand has changed even though the price had remained the same. This shift is meant to signify that something else apart from price has caused an increase in demand such as an increase in income. After the shift, the price will have to change to reflect a new Equilibrium which will be the new intersection point with the Supply Curve.

I have attached a graph showing what happens when Quantity Demand increases.

4 0
3 years ago
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