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Product of Capital Assignment | Homework For You

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December 11th, 2019

A company purchases capital and labor in a competitive market at prices R = $100,000 and W = $80,000 respectively.

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Homework For You

At current level of production, the marginal product of capital is 5,000 and the marginal product of labor is 3,500. Is this firm minimizing cost? If so, explain how you know.Get Economics homework help today

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