For a manufacturing company to achieve the most efficient combination of labor and capital and therefore to

Question:

For a manufacturing company to achieve the most efficient combination of labor and capital and therefore to minimize total costs for a desired level of output, it will most likely attempt to equalize the:

A. average product of labor to the average product of capital.

B. marginal product per unit of labor to the marginal product per unit of capital.

C. marginal product obtained per dollar spent on labor to the marginal product per dollar spent on capital.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Economics For Investment Decision Makers

ISBN: 9781118111963

1st Edition

Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto

See More Books

Question Posted: Mar 09, 2024 11:02 AM

See More Questions

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
Q1. You have identified a market opportunity for home media players that would cater for older members of the population. Many older people have difficulty in understanding the operating principles...
Simplify x + -5 x
Implement and maintain internal control procedures This task will require you to roleplay a meeting with your supervisor, Chris Kohler. You will discuss the reporting requirements and timetables...
Light of wavelength 5.0 x 10-7 m passes through two parallel slits and falls on a screen 5.0 m away. Adjacent bright bands of the interference pattern are 2.0 cm apart. (a) Find the distance between...
When goods are received, the receiving clerk should match the goods with the: (a) purchase order and the requisition form. (b) suppliers invoice and the goods received note. (c) suppliers shipping...
Explain how the market for bank deposits, shown in Figure 7.1, differs from the market for loanable funds, discussed in Chapter 2.
Please complete the Express Catering, Inc.s 2014 tax return based upon the information provided below. If required information is missing, use reasonable assumptions to fill in the gaps. Ignore any...
Sheridan Tool Supply Company purchased land and a building on April 1 , 2 0 2 2 , for $ 3 6 2 , 4 0 0 . The company paid $ 1 0 5 , 6 0 0 in cash and signed a 5 % note payable for the balance. At that...
A firm will expand production by 200 units and must hire at least one additional worker. The marginal product per day for one additional unskilled worker is 100 units, and for one additional skilled...
A firm experiencing an increase in the marginal product of labor employed would most likely: A. allow an increased number of workers to specialize and become more adept at their individual functions....
Should Lone Star have a succession plan in place for other individuals at the bank? If so, why and for whom?
Explain in simple terms the concept of: "Technology Structures and Social Boundaries"
1- According to the Six Steps in Strategic Planning find out the Lidl and Mercadona strategic plan 2021-2022 in Spain. Highlight the major differences and similarities between them. 2- Make a picture...
Your writing must present an introduction, development and conclusion. At the end of your work include the APA references. case 1: program for the agency that provides services to the government...
7. (8 points) In the following VHDL process, if input A changes at time 20nS and no other inputs change after that time, at what time will all the output signals be guaranteed to have assumed their...
Q1. Tenure analysis: Table: employee Column Name Data Type Description employee_id Integer Unique identifier for each employee department Varchar The department of the employee job_level Varchar The...
What are integrity constraints? Describe four different ways to handle integrity constraints. Which approach is the most desirable?
Can partitioned join be used for r r.A s? Explain your answer
Use the following graphs to answer the questions. a. What is the equilibrium quantity of trash collectors hired, and what is the equilibrium wage? b. What is the equilibrium quantity of receptionists...
In what sense do employers who discriminate pay an economic penalty? Is this penalty enough to eliminate discrimination? Briefly explain.
Joe Morgan is a sportscaster and former baseball player. After he stated that he thought the salaries of Major League Baseball players were justif ied, a baseball fan wrote the following to Rob...
A zero-coupon bond bears a higher interest rate risk than a coupon-paying bond, given other bond characteristics are equal. True False
Company management decided to restructure its balance sheet. Current long term debt of 8 mio euros will be increased to 20 mio euros. Interest for the debt is 4%. Borrowed 12 mio euros will used to...
Susan loans 10000 to Jim. Jim repays the loan with yearly instalments at the end of each year. Interest is expected to be 5% the first five years, and 10% the last five years. Calculate the...

For a manufacturing company to achieve the most efficient combination of labor and capital and therefore to

Question:

Step by Step Answer:

B Marginal product per unit of labor to the marginal product ...View the full answer

Economics For Investment Decision Makers

Students also viewed these Business questions