In the long run, assume a firm uses both labor and capital to produce 2525 units of output. The marginal product of the last unit of labor being employed is 100100 ; the marginal product of the last unit of capital being employed is 500500 . The wage rate of labor is $10$10 . If the firm is minimizing the cost of producing 2525 units of output, what must be the unit price of capital?

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"