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NNF1024 NNF1024
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A year ago

If the MPP of the last unit of labor hired equals 6 and the MPP of the last unit of capital hired equals 8, and the price of labor is $4 per unit and the price of capital is $4 per unit, then the firm



▸

is minimizing its costs with this combination of factors.



▸

is maximizing its profits with this combination of factors.



▸

should hire more labor and less capital in order to minimize its costs.



▸

should hire more capital and less labor in order to minimize its costs.



▸

a and b

Textbook 
Economics

Economics


Edition: 12th
Author:
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anitasaganitasag
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A year ago
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NNF1024 Author
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A year ago
this is exactly what I needed
jaray75
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Yesterday
Thank you, thank you, thank you!
gmiannotti
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2 hours ago
Helped a lot
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