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Sometimes it is said that producer theory is similar to

a) Sometimes it is said that producer theory is similar to consumer theory. In what ways are they similar?

b) Describe in words what a production function is. Which variables are typically inputs?

c) What is the difference between the short and the long run?

d) What does "returns to scale," mean?

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Microeconomics: Sometimes it is said that producer theory is similar to

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