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The Neoclassical Theory of Production

Question 17

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The neoclassical theory of production


A) emphasized the importance of the social and cultural foundations of productive technology.
B) stated that the last dollar spent on each factor should yield the same increase in production from all factors.
C) showed the laborers could not be very productive if they suffered from inadequate food, shelter, and clothing because they were paid such low wages.
D) showed that businessmen did not necessarily attempt to maximize profits in all cases.
E) all of the above.

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