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A firm hires only labor and capital and that the price of labor is $8 and the price of capital is $12. In the long
- A firm hires only labor and capital and that the price of labor is $8 and the price of capital is $12. In the long run, the firm doubles its workforce from 8 to 16 units and doubles its capital from 12 to 24 units. Its output subsequently increases from 100 to 210 units. What sort of technology is this firm realizing?
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Economics of Managerial Decisions
Authors: Roger Blair, Mark Rush
1st edition
134166167, 978-0134166162, 9780134140773 , 978-0133548235
