=+g. How would your answer to (f) change if wage fell instead?

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=+g. How would your answer to

(f) change if wage fell instead?

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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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=+g. How would your answer to (f) change if wage fell instead?
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=+f. Combining your insights from (d) and (e), can you identify the region in which your new profit-maximizing bundle will lie when wage increases to wr?
=+h. Next, suppose that, instead of wage changing, the output price increases to pr. Where in your graph might your new profit-maximizing production plan lie? What if p decreases?
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=+g. How would your answer to (f) change if wage fell instead?

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Microeconomics An Intuitive Approach With Calculus

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