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b. Write down the equation of the isocost line for each technology. Make R the subject of the equation. (2 marks) Suppose the wage (w)

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b. Write down the equation of the isocost line for each technology. Make R the subject of the equation. (2 marks)

Suppose the wage (w) is $20 and the price of coal (p) is $40 and a representative firm in the textile industry has two types of technologies available with a goal to produce one unit of cloth

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