Answered: MPL = 50 units, MPK = 100 units W = Rs.…

MPL = 50 units, MPK = 100 units W = Rs. 25/=, r = Rs40/= (i) Is the firm producing efficiently? Interpret. (ii) If the firm is not producing efficiently, how might it do so? interpret

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section: Chapter Questions

Problem 7QP

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please answer attached question

MPL = 50 units, MPK = 100 units
W = Rs. 25/=, r = Rs40/=
(i) Is the firm producing efficiently? Interpret.
(ii) If the firm is not producing efficiently, how might it do so? interpret

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