Describethe firm should adjust its mix of capital and labor

Reference no: EM13196208

Suppose a firm finds that the marginal product of capital is 60 and the marginal product of labor is 20. If the price of capital is $6 and the price of labor is $2.50,

Describe how the firm should adjust its mix of capital and labor?

What will be the result?

Reference no: EM13196208

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