2.2 The wage rate is $32, and the price of raw materials in $16. The marginal product...

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2.2 The wage rate is $32, and the price of raw materials in $16. The marginal product of labor is 24, and the marginal product of raw materials in 8.

Is a firm operating under these conditions minimizing its cost? If not, what should the firm do?

Explain your answers.

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The Economics Of Managerial Decisions

ISBN: 9781292310947

1st Global Edition

Authors: Roger Blair

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Question Posted: Nov 11, 2024 02:00 AM

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2.2 The wage rate is $32, and the price of raw materials in $16. The marginal product...

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The Economics Of Managerial Decisions

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