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R.R. Jha
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Consider the following information in the table for Pats Pizza

Resolved Question:

Consider the following information in the table for Pat’s Pizza Restaurant and answer the questions below.
Marginal Product of Capital 4,000
Marginal Produce of Labor 100
Wage Rate $10
Rental Price of Pizza Ovens $500

a. Is the owner of Pat’s Pizza Restaurant minimizing cost?

b. Should he rent more ovens and hire fewer workers or rent fewer ovens and hire more workers? Explain.
Submitted: 5 years ago.
Category: Business and Finance Homework
Expert:  R.R. Jha replied 5 years ago.

I could help with this. I'd post your answer soon.

Customer: replied 5 years ago.
Thank you! :)
Customer: replied 5 years ago.
I got a response that you need more info. I don't see what you are missing and this is the only info I have at this time. Please advise if you can assist. Thanks
Expert:  R.R. Jha replied 5 years ago.
Please download answer below

Pat Pizza

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