The current wage rate is $10, and the rental rate of capital is $500. A firm's marginal

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The current wage rate is $10, and the rental rate of capital is $500. A firm's marginal physical product of labor is 200, and its marginal physical product of capital is 20,000. Is the firm maximizing profits for the given cost outlay? Why or why not?
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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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