Assume that a purely competitive firm uses two resources, labor (L) and capital (C) , to produce a product. In which situation would the firm be maximizing profit? 
Definitions:
Conveyer Belts
Continuous moving strips or belts that are used in a variety of processes and locations to transport materials or objects from one place to another.
Glaze Coating
a smooth, often glossy barrier applied on surfaces like pottery, ceramics, and baked goods.
Hopper
A container used for bulk storage, particularly for materials that can flow freely, or a device that feeds materials into another machine.
Moral Development
The process by which individuals learn and internalize the values, attitudes, and behaviors considered appropriate to their culture and society.
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