0:54:02 Peter's Pancakes sells various flavoured pancakes. To produce 1,000 pancakes, the firm requires 2 unit of capital and 4 units of labour. What is the total cost of producing 1,000 pancakes, if the price of labour is $20 and the price of capital is $200. Answer:

0:54:02 Peter's Pancakes sells various flavoured pancakes. To produce 1,000 pancakes, the firm requires 2 unit of capital and 4 units of labour. What is the total cost of producing 1,000 pancakes, if the price of labour is $20 and the price of capital is $200. Answer:

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.8P

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Time left 0:54:02
Peter's Pancakes sells various flavoured pancakes. To produce 1,000
pancakes, the firm requires 2 unit of capital and 4 units of labour.
What is the total cost of producing 1,000 pancakes, if the price of
labour is $20 and the price of capital is $200.
Answer:

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