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As a production manager, your job depends on your ability to minimize the cost of production. You hire a consulting firm, and its report suggests

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As a production manager, your job depends on your ability to minimize the cost of production. You hire a consulting firm, and its report suggests that you have plenty to worry about: the cost of capital (R) is $400 per hour, the wage (W) paid to your workers is $16 per hour, the marginal product of capital (MPk ) is 20 units per hour, and the marginal product of labor (MP_) is 32 units per hour. A firm operating under these conditions minimizing its cost

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