If labor and capital are perfect complements in production, short run supply curves are vertical.
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Q7: If the cross-price demand curve for capital
Q8: The fixed expense on a fixed level
Q9: If the rental rate increases, we know
Q10: The greater the degree of substitutability between
Q11: If the rental rate increases, we know
Q13: Long run marginal cost curves are increasing
Q14: (Long run) average cost curves are U-shaped
Q15: Except for the output level for which
Q16: Short run economic costs must be lower
Q17: Conditional input demand curves always slope down,
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