Answer to Question #36725 in Microeconomics for lasisi

Question #36725
The company uses in the production of commodity X two independent resource A and B (labor and capital). measure of marginal products of resources are shown in the table below. goods are sold at a price of 50 thousand dollars. Qa MPa Qb MPb 1 12 1 20 2 11 2 18 3 10 3 16 4 9 4 14 5 8 5 12 6 6 6 10 7 5 7 8 8 3 8 6 Determine the following: At what proportion of resources firm maximizes profit if PA= $250 and PB= $400., and what is the size of the profits.
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2013-11-06T11:37:37-0500

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