Question
A local tire manufacture uses both machines and labor to make their product. Suppose that they hire a consultant to estimate their marginal return of
A local tire manufacture uses both machines and labor to make their product. Suppose that they hire a consultant to estimate their marginal return of investments (MPI's) for machines and labor. They find that their MPI for labor is 0.02 and their MPI for machine is 0.01. How should they adjust their plan?
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Microeconomics
Authors: David Laibson, John List
Global Edition 1st Edition
1292079576, 978-1292079578
