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Economics

Let p denote the price at which a firm sells the good it produces, MPi(x1,x2) the marginal product of input i = 1,2 when the combination of inputs is (x1,x2), and wi the price of input i. If pMP1(5,9) > w1, then should the firm use more or less than 5 units of input 1 in the production process?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91230674

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