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A firm has fixed costs of $2000. It's short production function is , where x is the amount of variable factor it uses. The price
A firm has fixed costs of $2000. It's short production function is , where x is the amount of variable factor it uses. The price of the variable factor is $3000 per unit. The short-run production function is:
a. TC = 5000y
b. TC = 2000 + 3000y
c. TC = 2000/y
d. TC = 2000 +
e. TC = 2000y +
y = 42.12Step by Step Solution
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