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Explain clearly 10. (10 points) Suppose that a firm has a budget of C TLs which it can spend only on buying inputs. It cannot

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Explain clearly

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10. (10 points) Suppose that a firm has a budget of C TLs which it can spend only on buying inputs. It cannot borrow funds to spend more than C. Further, suppose that the output price is higher than marginal costs at output levels that it can produce. Formulate the problem that this firm faces (its objective function, constraint, what it will choose, etc.)? Explain why

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