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Bulldog, Inc. measures the technical rate of substitution at MPL/ MPK= 3 . The prices of labor and capital faced by Bulldog are such that

Bulldog, Inc. measures the technical rate of substitution at MPL/ MPK= 3 . The prices of labor and capital faced by Bulldog are such that currently PL/PK=4. Is Bulldog producing its current level of output at the minimum cost? If not, how could they do better? How so?

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