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Business, 30.10.2020 16:50 Fm610899

Suppose college graduates earn $25 an hour and high school graduates earn $15 an hour. Suppose too that the marginal product of college graduates at Johnson Tools is five hammers per hour, while the marginal product of high school graduates is four hammers per hour (regardless of the number of each type of worker employed). What is the leastcost production method for producing 100 hammers in an eight-hour day

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