=+c. Now suppose that the production function is still f1,, k2 5 A, a k b but

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=+c. Now suppose that the production function is still f1,, k2 5 A, a k

b but now a 1 b . 1. Are long-run average and marginal cost curves upward or downward sloping? Are short-run average cost curves upward or downward sloping? What does your answer depend on?

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Microeconomics An Intuitive Approach With Calculus

ISBN: 9781337335652,9781337027632

2nd Edition

Authors: Thomas Nechyba

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Question Posted: Nov 04, 2024 09:00 AM

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=+c. Now suppose that the production function is still f1,, k2 5 A, a k b but

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Microeconomics An Intuitive Approach With Calculus

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