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As factor prices change, the unit cost of production will increase as well. Part 6 Firms will respond to these changing unit costs by either
As factor prices change, the unit cost of production will increase as well. Part 6 Firms will respond to these changing unit costs by either increasing their level of output or charging higher prices for the same level of output
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
