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6) Given: MP1=5 MPk=6 W=PL=$3 r=PK=$2 If the firm is committed to producing a certain level of output Q at least cost, is the firm

6) Given: MP1=5 MPk=6 W=PL=$3 r=PK=$2 If the firm is committed to producing a certain level of output Q at least cost, is the firm in producer equilibrium and if not, what should it do? Illustrate on the diagram below. (5 marks) K

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