In choosing a production technology, how will firms react if one input becomes relatively more expensive?

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Principles Of Economics

ISBN: 9781506699868

2nd Edition

Authors: OpenStax

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Question Posted: Oct 31, 2023 09:43 AM

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In choosing a production technology, how will firms react if one input becomes relatively more expensive?

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When one input becomes relatively more expensive firms will react by choosing a production technology that uses less of that input and more of other i...View the full answer

Principles Of Economics

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