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Assume that a firm is operatingin a purely competitive market and that its input-output relationship is of thefollowing form:

and P_x1 =$1 and P_x2=$1

There is no fixed cost. At how many units of output, Y, will thefirm maximize the net returns when the price of the product, P_y =$27?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91729343

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