Price of a unit of capital, Macroeconomics

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Price of a unit of capital

Suppose that a cost minimizing firm n a perfectly competitive market uses two input, labor and capital. If the marginal product of capital is twice the marginal product of labor and the price of a unit of labor is $4, what must be the price of a unit of capital?

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Macroeconomics: Price of a unit of capital

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Macroeconomics: Price of a unit of capital

Reference No:- TGS066851

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

Q : Find total profit if firm effectively charge different price

Q : Official measure of gdp

Q : What happen to industry output and costs per subscriber

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Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Price of a unit of capital

Reference No:- TGS066851

Recent Questions Asked Macroeconomics

Q : Find total profit if firm effectively charge different price

Q : Official measure of gdp

Q : What happen to industry output and costs per subscriber

Q : Land improvements such as landscaping

Q : Price of a unit of capital

Q : How is time frame important to explanation

Q : Additional capital and labor

Q : Elaborate on the nature of interest

Q : Prepare journal entries to record the transactions

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