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Business, 18.12.2019 21:31 chloeholt123

Assume that labor and capital are the only two inputs a perfectly competitive firm uses to produce wheat. the firm hires its inputs in perfectly competitive input markets. the unit price of labor is $8 and of capital is $20. when the firm employs the profit-maximizing combination of these two inputs, the marginal product of labor is 2 tons of wheat and of capital is 5 tons of wheat. the price of wheat per ton must be(a) $2(b) $4(c) $5(d) $8(e) $10

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