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When w = $10 and r = $7, you are meeting your production goal of Q=12 optimally in the long run withL=120 andK=5 .If the
When w = $10 and r = $7, you are meeting your production goal of Q=12 optimally in the long run withL=120
andK=5
.If the wage rate falls to w = $9, then the cost minimizing K is now
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