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(True or False? With explanation) A firm employs 100 workers at a wage rate of $10 per hour, and 50 units of capital at a
(True or False? With explanation) A firm employs 100 workers at a wage rate of $10 per hour, and 50 units of capital at a rate of $21 per hour. The marginal product of labor is 3, and the marginal product of capital is 5. The firm could reduce the cost of producing its current output level by employing less labor and more capital in the long run
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