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Unformatted text preview: way possible. How much does the firm spend? c. Suppose that the firm wants to produce 27,000 units of output and has exactly 10 units of capital in hand. In this situation, how many labor has to be employed? d. Suppose that the firm wants to spend exactly $1,200. What is the most efficient combination of labor and capital ( , ) L K ? e. Suppose that the firm spends exactly $1200 in the most efficient way possible. How much output can the firm produce?...
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This note was uploaded on 02/29/2012 for the course 220 320 taught by Professor Raven during the Summer '10 term at Rutgers.
- Summer '10