question in the long run, assume a firm uses both labor and capital to produce 25 units of output. the marginal product of the last unit of labor being employed is 100; the marginal product of the last unit of capital being employed is 500. the wage rate of labor is $10. if the firm is minimizing the cost of producing 25 units of output, what must be the unit price of capital?

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04-11-2022
Business

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question in the long run, assume a firm uses both labor and capital to produce 25 units of output. the marginal product of the last unit of labor being employed is 100; the marginal product of the last unit of capital being employed is 500. the wage rate of labor is $10. if the firm is minimizing the cost of producing 25 units of output, what must be the unit price of capital?

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rafikiedu04 rafikiedu04 · Answer 1 · 2022-11-08T02:45:35-05:00

If the firm is minimizing the cost of producing 25 units of output, $ 50 must be the unit price of capital.

In production, research, retail, and accounting, a cost is the worth of cash that has been burnt up to provide one thing or deliver a service and thus isn't out there to be used anymore. In business, the price is also one among acquisitions, during which case the quantity of money expended to amass it's counted as cost.

In this case, money is the input that's gone so as to acquire the thing. This acquisition cost may be the addition of the cost of production as incurred by the initial producer, and more prices of dealing as incurred by the acquirer over and on top of the price paid to the producer. Usually, the value conjointly includes a markup for profit over the price of production.

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