Assume the production of cell phones requires labor and capital. Currently, the MRP for the last unit of labor is $20 and the MRP of the last unit of capital is $300. If the price of labor is $50 and the price of capital is $200, what should this do to the quantity of labor and the quantity of capital to maximize profit?
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Home » Business » Assume the production of cell phones requires labor and capital. Currently, the MRP for the last unit of labor is $20 and the MRP of the last unit of capital is $300.