A firm uses two inputs capital k and labor l in its

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A firm uses two inputs, capital (K) and labor (L), in its production process. Capital and labor are perfect complements in production for this firm, meaning that they are only beneficial when employed together in specific proportions: specifically, they are effective when 1 unit of capital is paired with 1 unit of labor, and any excess of one input (any units not paired with a unit of the other input) is wasted.

Reference no: EM13371654

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