If the price of capital is $24, the price of labor is $15, and the mar
If the price of capital is $24, the price of labor is $15, and the marginal product of capital is 16, the least costly combination of capital and labor requires that the marginal product of labor be ________.
Fill in the blank(s) with correct word
ANSWER
MPcapital/ MPlabor = Price of capital/Price of Labor, or marginal product of labor = 10.
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