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The wage rate is $32, and the price of raw materials is $16. The marginal product of labor is 24, and the marginal product

The wage rate is $32, and the price of raw materials is $16. The marginal product of labor is 24, and the marginal product of raw materials is 8. A firm operating under these conditions minimizing its cost. IS NOT IS The firm should use V labor and V raw materials to lower its cost. LESS LESS MORE MORE

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