Inferior goods typically obey the law of demand because the substitution effect tends to dominate the income effect

Suppose a firm uses labor and capital to produce output. The last unit of labor hired has a marginal product of 12 units of output, and the last unit of capital employed has a marginal product of 20 units

Use the optimal combination of inputs rule to calculate the price of capital if the price of labor is $6 per unit. The price of capital is A) $2. B) $10. C) $20. D) impossible to determine with the information given.

"Economic profits are less than or at most equal to accounting profits." Do you agree or disagree? Explain

What will be an ideal response?