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Marginal product of labor

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Assume that labor (artist) and capital (robot) are perfect substitutes in producing an output (= painting) for a firm. Marginal product of labor (MPL =APL ) is 15 paintings per day and the price of labor (PL) is $20/day. The MP of capital (MPK= APK ) is 20 paintings per day, and the rental rate of capital (PK) for one day is $40. What is the maximum output (= paintings) producible with TC = $600?

Reference no: EM132294133

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