How many units of each input have to be used


Problem

Firm G is using a technology where the factors of production are perfect complements: 3 workers can operate and use on machine to produce the output. If Firm G wants to produce 90 units of output, and the prices of factors of production are W1 = $50 ?and W2 = $100, how many units of each input have to be used? What will be the minimal cost of producing units of output?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: How many units of each input have to be used
Reference No:- TGS03343437

Expected delivery within 24 Hours