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5. The short-run production function assumes the following to be constant a) Land and entrepreneurial ability b) work c) capital, entrepreneurial skills and land d)
5. The short-run production function assumes the following to be constant a) Land and entrepreneurial ability b) work c) capital, entrepreneurial skills and land d) land 8. The degree of operational leverage (GAO) measures the influence of _____ on economic profit a) efficiency in technology b) opportunity cost c) operational loss11. The change in total product by increasing one additional unit a) isoquant b) average total product c) isocost d) marginal product
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