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If the production function for good X is X = K^0.3L^0.5 (Multiple choice) Long run marginal cost will increase as X increases Long run marginal
If the production function for good X is X = K^0.3L^0.5 (Multiple choice)
- Long run marginal cost will increase as X increases
- Long run marginal cost will decrease as X increases
- Long run marginal cost will be the same for every value of X
- Long run average cost will be increasing.
- None of the above.
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Mathematical Statistics With Applications In R
Authors: Chris P. Tsokos, K.M. Ramachandran
2nd Edition
124171133, 978-0124171138
