Business, 23.04.2021 16:00 meichea

1. Suppose a firm can hire workers for $40 per hour. The marginal product of the last worker hired is 80. This same firm can pay $60 to rent machines that do the same work as labor but at a higher rate of productivity. The marginal product of the last machine is 100. Is this firm at its cost-minimization combination of its inputs of labor and capital

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1. Suppose a firm can hire workers for $40 per hour. The marginal product of the last worker hired i...

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