Assume that the marginal product of labour in a GM assembly line for auto parts is 20 rear seats per hour. The MRTS of worker hours (L) for hours of mechanized equipment (K) is 1/3. What is the marginal product of capital?
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Assume that the marginal product of labour in a GM assembly line for auto parts is 20 rear seats per hour. The MRTS of worker hours (L) for hours of mechanized equipment (K) is 1/3. What is the marginal product of capital?
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