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Given the hourly costs: Machine-P60; Worker-P50 Each input has to work in integer hour Marginal Product Hours Used Machine Worker 15 8 2 18 10
Given the hourly costs: Machine-P60; Worker-P50 Each input has to work in integer hour Marginal Product Hours Used Machine Worker 15 8 2 18 10 3 21 10 18 10 5 15 6 12 6 7 8 N If the daily budget for the 2 inputs is P570, what is the optimal mix of machine-hours and worker-hours, respectively? [ Select ] What is the total product for this optimal mix of machine- hr & worker-hr with daily budget of P570 ? [ Select ] After how many hours of use does diminishing marginal return (product) set in for the machine?If the daily budget for the 2 inputs is P570, what is the optimal mix of machine-hours and worker-hours, respectively? [ Select ] () What is the total product for this optimal mix of machine- hr & worker-hr with daily budget of P570 ? [ Select ] () After how many hours of use does diminishing marginal return (product) set in for the machine? [ Select ]
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