What should the firm do to optimize production, Microeconomics

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What should the firm do to optimize production

A firm with a 2 input production process measures the marginal output with respect to one input at 6 while the price of that input is $3.00. Knowing that the price of the second input is $2.00, what should the firm do to optimize production (assume that the MPP's are independent for the sake of this discussion). Why?

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Microeconomics: What should the firm do to optimize production

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Microeconomics: What should the firm do to optimize production

Reference No:- TGS050776

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Microeconomics: What should the firm do to optimize production

Reference No:- TGS050776

Recent Questions Asked Microeconomics

Q : How given information affect decision to build larger hanger

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