4. What must the relationship between marginal productivities and input prices if a firm is not choosing the optimal bundle of inputs but instead is hiring too much labor relative to the optimum?

ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
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4. What must the relationship between marginal productivities and input prices if a firm is not choosing
the optimal bundle of inputs but instead is hiring too much labor relative to the optimum?
Transcribed Image Text:4. What must the relationship between marginal productivities and input prices if a firm is not choosing the optimal bundle of inputs but instead is hiring too much labor relative to the optimum?
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