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Consider the information in the following table for GAD's restaurant. Marginal product of capital 3,000 pizzas per oven Marginal product of labor 1,200 pizzas per

Consider the information in the following table for GAD's restaurant.

Marginal product of capital 3,000 pizzas per oven

Marginal product of labor 1,200 pizzas per worker

Wage rate $300 per week

Rental price of ovens $600 per week

Briefly explain whether Gad is minimizing costs. If he is not minimizing costs, explain whether he should rent more ovens and hire fewer workers or rent fewer ovens, and hire more workers.

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