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Change in the level of output

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Reference no: EM131246413

Suppose a firm "moves" from one point on a production isoquant to another point on the same isoquant. For each of the following, briefly explain why it has to happen with certainty or why it does not have to happen:

  • A change in the level of output
  • A change in the ratio in which the inputs are combined
  • A change in the marginal products of the inputs
  • A change in the rate of technical substitution

A change in profitability

Reference no: EM131246413

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