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Suppose that the marginal product of labor for a local bakery is 12 units per day and the price of labor is $2 per day.
Suppose that the marginal product of labor for a local bakery is 12 units per day and the price of labor is $2 per day. Instructions: Enter your answers as a whole number. What does the least-cost rule say that the ratio of the marginal product of capital to the price of capital should be? Now suppose that the marginal product of labor is 12 units per day, the price of labor is $2 per day, and the price of capital is $4 per day. What does the least-cost rule say that the marginal product of capital should be
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