HH Auto Repaire reports the following information for the coming year. Compute the price rate per hour of direct labor. Compute the materials markup. What price should the company quote for a job requiring three labor hours and $680 in parts

Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.