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Question 3 What is segment AB depicting in Figure 2'? Explain the diagram using an example. Figure 2 J'1 (10 marks} Question 4 A producer
Question 3 What is segment AB depicting in Figure 2'? Explain the diagram using an example. Figure 2 J'1 (10 marks} Question 4 A producer has the following problem: min C = wL+ rK x1 .x2 Subject to:y=LL1 Kb . According to producer theom what variables would get the preducerto increase the demand for labour? What variables are missing from the theory? Explain. (10 marks}
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