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two or more variable inputs
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What are the possibilities of returns to scale in production technology? Three possibilities are there as: technology exhibits (a) constant returns to scale; (b) decreasing ret
Differentiate between firm and industry. A firm is a business unit produced for the purpose of carrying out some kind of trading activity. The term "firm" is used in many ways
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would a rational producer be concerned with the average or marginal product of an input in dec
explain optimal use of variable input?
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