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Marginal output, economics, Microeconomics
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $28 per machine, are these two outputs being used at the least cost combination and what should be done if they are not?
Posted Date: 3/20/2012 8:49:19 AM | Location : United States
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