Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson

Exercise 10

*A dressmaker uses labor and capital (sewing machines) to produce dresses in a competitive market. Suppose the last unit of labor hired cost $1,000 per month and increased output by 100 dresses. The last unit of capital hired (rented) cost $500 per month and increased output by 80 dresses. Is the dressmaker minimizing costs If not, what changes need to be made