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Please answer correct calculation asap plz a and b Don't answer by pen paper plz 10. Suppose the marginal product of the last worker employed
Please answer correct calculation asap plz a and b
Don't answer by pen paper plz
10. Suppose the marginal product of the last worker employed by a firm in 40 units of output per day and the daily wage that the firm must pay is $20, while the marginal product of the last machine rented by the firm is 120 units of output per day and the daily rental price of the machine is $30. (a) Why is this firm not maximizing output or minimizing costs in the long run? (b) How can the firm maximize output or minimize costsStep by Step Solution
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