An increase in the quantity of output will cause the cost-minimizing quantity of an input to go

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An increase in the quantity of output will cause the cost-minimizing quantity of an input to go up if the input is a normal input and will cause the cost-minimizing quantity of the input to go down if the input is an inferior input.

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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Question Posted: Oct 15, 2024 03:01 AM

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An increase in the quantity of output will cause the cost-minimizing quantity of an input to go

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Microeconomics

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