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7. Assume that a firm is operating in a purely competitive market and that its input-output relationship is of the following form: andP x1 =$1andP

7.Assume that a firm is operating in a purely competitive market and that its input-output relationship is of the following form:

andP_x1 =$1andP_x2 =$1

There is no fixed cost. At how many units of output, Y, will the firm maximize the net returns when the price of the product, P_y = $27?

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