8. short-run cost function Return to the setting of problems 6 and 7 above. The short-run cost...
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8. short-run cost function Return to the setting of problems 6 and 7 above. The short-run cost curve depicts a case where some factors of production have been fixed at their levels at the efficient output point. Determine another shortrun cost curve that could be interpreted as characterizing a case where a different set of factors of production has been fixed at the efficient point.
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