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9 Jan 2018
13. Hiring a unit of labour costs $10 while hiring a unit of capital costs $20. The marginal product of capital is equal to 200. A cost minimizing manager will hire labour until it's mar- ginal product falls to a) 50 b) 100 c) 200 d) 400
13. Hiring a unit of labour costs $10 while hiring a unit of capital costs $20. The marginal product of capital is equal to 200. A cost minimizing manager will hire labour until it's mar- ginal product falls to a) 50 b) 100 c) 200 d) 400
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