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Title: Suppose a firm uses labor and capital to produce output. The last unit of labor hired has a marginal ... Post by: Skizzle234 on Feb 26, 2019 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
• $2. • $10. • $20. • impossible to determine with the information given. Title: Suppose a firm uses labor and capital to produce output. The last unit of labor hired has a marginal ... Post by: Kutthroat Kane on Feb 26, 2019 $10.
Title: Suppose a firm uses labor and capital to produce output. The last unit of labor hired has a marginal ... Post by: Skizzle234 on Feb 26, 2019 Thank you
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