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A manufacturing firm uses labor and capital to produce output. It has been using the optimal combination of labor and capital to produce a given
A manufacturing firm uses labor and capital to produce output. It has been using the optimal combination of labor and capital to produce a given level of output at the lowest possible cost but recent legislation will increase the firm's hourly labor cost. What should the firm do? Group of answer choices Use less capital. Reduce the marginal product of labor. Use more labor. Use less labor
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