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Businesses choose between several different possible production processes by ... Choosing to be labour-intensive at all times Using a balanced mix of inputs Choosing to
Businesses choose between several different possible production processes by ...
Choosing to be labour-intensive at all times
Using a balanced mix of inputs
Choosing to be capital-intensive at all times
Selecting the most efficient process of production given the price of each unit of output
producing a given level of output with a process that minimizes costs
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