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In: Economics

Suppose a grocery stores uses 120 units of labor at a price of $5 and 200...

Suppose a grocery stores uses 120 units of labor at a price of $5 and 200 units of capital at a price of $2 to produce an output of Q= 1,456. The marginal product of labor is 25 and the marginal product of capital is $10. Is the grocery store minimizing its cost? Explain

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