Suppose that the firm has determined its profits-maximizing
Suppose that the firm has determined its profits-maximizing level of inputs in the short-run. Now the price of a fixed input goes up. How will this change the behaviour of the firm? What will happen to profits? Why?
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suppose that the firm has determined its profits-maximizing level of inputs in the short-run now the price of a fixed
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use a diagram to explain the following in the case of perfect substitutes if the ratio of input prices equals the mrts
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