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Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm's capacity. If he adds one more worker, the firm's total

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Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm's capacity. If he adds one more worker, the firm's total monthly revenue will increase from $54,000 to $66,000. If he adds one more tractor, monthly revenue will increase from $54,000 to $62,000. Each additional worker costs $4,000 per month, while an additional tractor would also cost $4,000 per month. Instructions: Enter your answers as a whole number. a. What is the marginal revenue product of labor? The marginal revenue product of capital? . tA b. What is the ratio of the marginal revenue product of labor to the price of labor (MRP L/PL)? What is the ratio of the marginal revenue product of capital to the price of capital (MRP /P C)? c. Is the firm combining inputs in a way that minimizes costs? (Click to select) d. Does adding an additional worker or adding an additional tractor yield a larger increase in total revenue for each dollar spent? (Click to select)

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