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wITH CURRENT TECHNOLOGY, SUPPOSE A FIRM IS PRODUCING 800 MUFFINS DAILY. ALSO ASSUME THAT THE LEAST-COST COMBINATION OF RESOURCES IN PRODUCING THOSE MUFFFINS IS 4 UNITS OF LABOR, 8 UNITS OF LAND, 2 UNITS IF CAPITAL, AND 1 UNIT OF ENTREPREEURIAL ABILITY, SELLING AT PRICES OF $45,$50,$65,AND $25, REPECTIVELY.
iF THE FIRM CAN SELL THES 800 uNITS AT $1 PERUNIT, WILL IT CONTINUE TO PRODUCE MUFFINS?

Econometrics, Economics

  • Category:- Econometrics
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