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A firm is producing optimally maximizing profits when the

A firm is producing optimally (maximizing profits) when the price level = $1. It pays a wage rate of $10 per hour to labor and rents capital for $8 per hour. It sells its product for $20 per unit. At its current production point we can assume that its marginal product of labor (MPL) equals:

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Business Economics: A firm is producing optimally maximizing profits when the

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