When P_X = $60, MP_X = 5 and MP_Y = 2, relative employment levels are optimal provided:

Name: When P X = $60, MP X = 5 and MP Y = 2, relative employment levels are optimal provided:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

To determine the optimal relative employment levels, we need to use the formula: MP_X/ MP_Y = P_X / P_Y Plugging in the given values, we have: 5/2 = 60/P_Y Solving for P_Y, we get: P_Y = 24 Therefore, the best choice is B, with a relative employment level of $24.

When PX = $60, MPX = 5 and MPY =

When P_X = $60, MP_X = 5 and MP_Y =