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International Economics 8th Edition by Dennis Appleyard, Alfred Field
Edition 8ISBN: 9780078021671International Economics 8th Edition by Dennis Appleyard, Alfred Field
Edition 8ISBN: 9780078021671 Exercise 3
If the MPP L / MPP K in the production of a good is less than w/r , why is the producer not in producer equilibrium? Explain how, with no change in budget size for the firm and with the given factor price ratio, output of the firm can be increased.
Explanation
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Marginal productivity capital is basical...
International Economics 8th Edition by Dennis Appleyard, Alfred Field
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