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QUESTION
If the price of capital is $24, the price of labor is $15, and the marginal product of capital is 16, the least costly combination of capital and
If the price of capital is $24, the price of labor is $15, and the marginal product of capital is 16, the least costly combination of capital and labor requires adjusting the amount of labor until its marginal product is equal to ………….
Complete and explain your answer.
