The marginal product of labor in the production of computer chips is 50 chips per hour. The

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The marginal product of labor in the production of computer chips is 50 chips per hour. The marginal rate of technical substitution of hours of labor for hours of machine capital is 1/4. What is the marginal product of capital?

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Microeconomics

ISBN: 978-0132857123

8th edition

Authors: Robert Pindyck, Daniel Rubinfeld

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Question Posted: Dec 22, 2015 02:21 AM

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The marginal product of labor in the production of computer chips is 50 chips per hour. The

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The marginal rate of technical substitution is defined at the ratio of the two marginal pr...View the full answer

Microeconomics

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