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A firm's Iso-Cost line, AB, represents 15 units of capital and 150 units of labor. If said Iso-Cost line shifted left, now representing 10 units
A firm's Iso-Cost line, AB, represents 15 units of capital and 150 units of labor. If said Iso-Cost line shifted left, now representing 10 units of capital and 100 units of labor, what happened to that firms budget? Group of answer choices The cost of labor/wage rate fell. The firms budget doubled. The cost of labor/wage rate rose. The firms budget was cut in half
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Price theory and applications
Authors: Steven E landsburg
8th edition
538746459, 1133008321, 780538746458, 9781133008323, 978-0538746458
