Classic tyres ct hires 125 workers and 40 machines to, Business Economics

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Classic tyres ct hires 125 workers and 40 machines to

Classic Tyres (CT) hires 125 workers and 40 machines to produce its product. The MPL of the last worker is 20 tyres/day; the MPM of the last machine is 50 tyres/day. The daily paid for each worker is EC$50 and the rental of each machine is EC$150/day.

a) What is the MP per dollar spent on a worker?

b) What is the MP per dollar spent on machine?

c) Is CT utilizing workers and machines in the cost– minimizing manner? Explain

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