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All else constant, as the price of petroleum increases relative to the prices of other inputs to the production process, in their effort to minimize their total costs of production, we can expect to see firms employ:
1. less of each of the inputs of production
2. the same amount of petroleum since there are no substitutes for petroleum
3. less petroleum and more of the other inputs to production
4. more petroleum and less of the other inputs to production
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What are the 5 criteria for evaluating a selection method?
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I lost my rental book and I need to pay for it and I am trying but it said that is an error on the system and I can't pay for it, can you help me to figure this out please.
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