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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 $50,000 to $58,000. If he adds one more tractor, monthly revenue will increase from $50,000 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? b. What is the ratio of the marginal revenue product of labor to the price of labor (MRPL - PER What is the ratio of the marginal revenue product of capital to the price of capital (MRPC = PC? c. Is the firm using the least costly combination of inputs? ONo, because MRPC - PC MRPL = PL O.No, because.MRPC = Pc MRPL PC O Yes, because MRPC - PC = MRPL+ PL Yes. because MRPC - PC

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