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In the country of Sleep-well, the inhabitants' main activity is... sleeping. Despite the loss of productivity that this entails, the country has a profuse and renowned production of blankets,mattresses, bed covers, and the like. Particularly, the market for pillows is Sleep-well's flagship;the market is perfectly competitive and has ? firms present, all of which have the similar cost function. The aggregate manufacture is 8,000 super-comfort pillows /day.
Question: Given that the newly merged firm is maximizing its profit, what will be the price of a super-comfort pillow?
Factor combination in the long run In the long run it is possible to vary all factors of production. The firm is therefore restricted in its activities by the law of diminish
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how manager can apply scarcity and oppotunity cost in managerial decision making
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