Business, 30.06.2021 01:00, booney46

Suppose that the price of labor (PL) is $7 while the price of capital (PK) is $10. Also, suppose that the marginal product of labor (MPL) is 20 while the marginal product of capital (MPK) is 30. What is the best advice for a profit-maximizing firm ?

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Suppose that the price of labor (PL) is $7 while the price of capital (PK) is $10. Also, suppose tha...