Solved: What can baldor do to improve the given situation, Microeconomics

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What can baldor do to improve the given situation

Problem

Baldor, Inc. measures the marginal rate of technical substitution (MRTS) at MP_L/MP_K = 3. The prices of labor and capital faced by Baldor are such that currently W/R = 4.

a. Is Baldor minimizing its costs?

b. What can Baldor do to improve its situation?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What can baldor do to improve the given situation

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