production function with one variable input, Managerial Economics

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explain production function illustrate production with one variable input

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A firm in a perfectly competitive market invents a new situation of production that lowers its marginal costs.  What happens to its output? What happens to the price it charges?

Start-up company , Let consider the economy (above) again where the followi...

Let consider the economy (above) again where the following set of stocks is traded:     x 1 =(2,2,0)    x 2 =(1,0,3)  x 3 =(0,2,4)          for the prices (p 1 , p 2 , p 3 )=(1,

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