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Consider a firm where the cost of capital is $200 per hour and the wage paid to the workers is $16 per hour.At the current
Consider a firm where the cost of capital is $200 per hour and the wage paid to the workers is $16 per hour.At the current level of output being produced, the marginal product of capital is 10 units per hour and the marginal product of labor is 32 units per hour.What is the change in output that results from a $1 change in the quantity of labor employed (in other words, what is the MPL w)?
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