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Bulldog, Inc. measures the technical rate of substitution at / = 3. The prices of labor and capital faced by Bulldog are such that currently
Bulldog, Inc. measures the technical rate of substitution at / = 3. The prices of labor and capital faced by Bulldog are such that currently / = 4. Is Bulldog producing its current level of output at the minimum cost? If not, how could they do better? Very briefly explain your answer
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