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Quantity of Labor MP of labor MRP of labor Quantity of Capital MP of capital MRP of capital 1 15 $45 1 8 $24 2

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Quantity of Labor MP of labor MRP of labor Quantity of Capital MP of capital MRP of capital 1 15 $45 1 8 $24 2 12 36 2 6 18 3 9 27 3 5 15 4 6 18 4 4 12 5 9 5 3 9 1 3 6 2 6 Refer to the above data. If the prices of labor and capital are $18 and $12 respectively, the profit maximizing firm will hire: O 5 labor and 2 capital O:6 labor and 4 capital 4 labor and 4 capital O 3 labor and 3 capital

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