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An economy can produce manufacturing goods (M) using labor (L) and capital (K) and food (F) using labor (L) and land (T). The total supply
An economy can produce manufacturing goods (M) using labor (L) and capital (K) and food (F) using labor (L) and land (T). The total supply of labor is 8. Given the supply of K and T, the outputs of the two goods depend on labor input as follows
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Economics
Authors: John Sloman, Jon Guest, Dean Garratt
10th edition
1292187859, 9781292187907 , 978-1292187853
