Question: 3. A firm minimizes its costs by using inputs such that the marginal product of labor is 10 and the marginal product of capital

3. A firm minimizes its costs by using inputs such that the

3. A firm minimizes its costs by using inputs such that the marginal product of labor is 10 and the marginal product of capital is 20. The price of capital is $10 per unit. What must the price of labor be?

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