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Mpl100 mpk500 pl50 pk10 is the firm minimizing costs if

MPL=100 MPK=500 PL=50 PK=10. Is the firm minimizing costs? If not, how should the firm adjust its input set? What is the willingness condition for cost minimization? What two conditions must be met if a firm is maximizing profits? Explain how these relate to each other.

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Microeconomics: Mpl100 mpk500 pl50 pk10 is the firm minimizing costs if

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