Question
Complete the following statements with correct word ( s ) or definition : --Good whose demand curve slopes upward because the income effect is larger
Complete the following statements with correct word ( s ) or definition :
--Good whose demand curve slopes upward because the income effect is larger than the substitution effect .
----------- is the extra output obtained by using one more machine while holding the number of workers constant .
combinations of capital and labor and the trade - off between the two .
q=K^ ^ aL^ ^ B; beta <= 1 where 0 sa , iscalled --------- Production function .
The firm's is the set of cost - minimizing input combinations a firm will choose to produce various levels of output ( when the prices of inputs are held constant )
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