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Let the firm's output be +. Let the output price be ++. Let the quantities of the m inputs be = (1, ... , )
Let the firm's output be +. Let the output price be ++. Let the quantities of the m inputs be = (1, ... , ) + . Let input prices be = (1, ... , ) ++ . The firm takes input prices as given ie they are parameters. Prove that the profit function (, ) is nondecreasing in p.
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