At an output level of 99, what is the cost minimizing amount of Labor and Kapital? At an output level of 154, what is the cost minimizing amount of Labor and Kapital If the price of the final product is $2.00, what is the profit maximizing level of Labor and Kapital? What is the total profit?
Assume the labor and kapital are purchase in a
LABOR P= $4 KAPITAL P=$6
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resource total prod marg prod total rev MRP resource total prod marg prod total rev MRP
LABOR KAPITAL
0 0 0 0
1 16 $32 1 24 $48
2 28 $56 2 41 $82
3 38 $76 3 53 $106
4 46 $92 4 63 $126
5 53 $106 5 72 $144
6 59 $118 6 80 $160
7 63 $126 7 86 $172
8 65 $130 8 89 $178
At an output level of 99, what is the cost minimizing amount of Labor and Kapital?
At an output level of 154, what is the cost minimizing amount of Labor and Kapital
If the
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