Homework Answers
Due to presence of HOMEWORKLIB POLICY, I am answering one question.
2.
Ans:
Profit maximizing condition is:
We have:
MRS = 15/5 = 3
r / w = 8 / 4 = 2
So, MRS > Price ratio.
This implies that firm is not optimizing and should use more capital to bring MRS = Price ratio and to maximize profits.
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