It's holiday time, and jason went into the wrapping business. it's been a busy day, and he wants to go home. he figured
out that the cost of wrapping an additional present is $0.50. he also charges $1.00 to wrap a gift. which decision would
make him better off?
wrapping an extra gift
not wrapping an extra gift

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?