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Tutor please help me A company purchases capital and labor in a competitive market at prices R = $100,000 and W = $80,000 respectively. At current
Tutor please help me
A company purchases capital and labor in a competitive market at prices R = $100,000 and W = $80,000 respectively. At current level of production, the marginal product of capital is 5,000 and the marginal product of labor is 3,500. Is this firm minimizing cost? If so, explain how you know. If not explain what the firm outght to do?