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Please see the screenshot below... QUESTION 1 Refer to the graph with equal-cost lines and an equal-product curve for a firm below. (1) Which point

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QUESTION 1 Refer to the graph with equal-cost lines and an equal-product curve for a firm below. (1) Which point represents the least cost condition for the firm? Choose from A, B, C, and D, The point that represents the least cost condition is: |:| (A/B/C/D) (2) What is the level of output at the point that represents the least cost condition? The quantity of output at that point is: (Instruction: Your answer should be an integer) (3) What is the total production cost at the point that represents the least cost condition? The total production cost at that point is: 3% (Instruction: Your answer should be an integer) (4) At the point that represents the least cost condition, what is the MPland/Mplabor ratio? The MPIand/MPIabor ratio at that point is: (Instruction: Round your answer to one decimal place; No fractions)

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