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Elegant Designs, a furniture maker, employs 40 workers at a wage of $40 per hour and 45 units of capital at a rental rate of
Elegant Designs, a furniture maker, employs 40 workers at a wage of $40 per hour and 45 units of capital at a rental rate of $30 per hour. Its production function is 5K0.6L0.4. At its current level of output
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