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Business, 07.05.2021 16:30 rileigh2302
A firm is employing inputs such that the marginal product of labor is 25 and the marginal product of capital is 40. The price of labor is $5 and the price of capital is $8. If the firm wants to minimize costs, then it should: Use less labor and more capital Use more labor and less capital Use less labor and less capital Make no change in resource use
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A firm is employing inputs such that the marginal product of labor is 25 and the marginal product of...
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