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If some firm in an industry has the production function F(x, y) = x^3/4 y^3/4, where x and y are the only two inputs in
- If some firm in an industry has the production function F(x, y) = x^3/4 y^3/4, where x and y are the only two inputs in producing the good, then that industry cannot be competitive in the long run.
- Microeconomics II is the most fun course you ever took.
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Managerial Economics and Business Strategy
Authors: Michael Baye, Jeff Prince
9th edition
9781259896422, 1259290611, 1259896420, 978-1259290619
