Business, 25.11.2021 07:00 vjacksongonzalez

A profit-maximizing firm will employ one additional unit of a resource if themarginal revenue product of that unit isgreater than the marginal cost of that unit. Suppose a firm uses skilled workers, unskilled workers, and machines in the production of cell phones. Which of the following conditions will be true when the firm minimizes per-unit costs of production? a. MP of Skilled Labor/Price of Skilled Labor > MP of Unskilled Labor/Price of Unskilled Labor > MP of a Machine/Price of a Machine.
b. MP of Skilled Labor/Price of Skilled Labor > MP of Unskilled Labor/Price of Unskilled Labor > MP of a Machine/Price of a Machine.
c. MP of Skilled Labor/Price of Skilled Labor = MP of Unskilled Labor/Price of Unskilled Labor = MP of a Machine/Price of a Machine.
d. MP of Skilled Labor/Price of Skilled Labor = MP of Unskilled Labor/Price of Unskilled Labor > MP of a Machine/Price of a Machine.

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