The four questions refer to the following table in which columns 1, 2, and 3 give the economically efficient combinations of labor and capital for various output levels. The price of capital is $50, and the price of labor is $30.
(1)
The four questions refer to the following table in which columns 1, 2, and 3 give the economically efficient combinations of labor and capital for various output levels. The price of capital is $50, and the price of labor is $30.
(1)
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