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QUESTION 4 Consider the isocost and isoquant curves that are plotted in the figure below: Capital A Colr P 175 B 100 Employment Suppose the

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QUESTION 4 Consider the isocost and isoquant curves that are plotted in the figure below: Capital A Colr P 175 B 100 Employment Suppose the rental price for capital r is 1; the wage rate w is 1; qo is 50. Which of the following statements is incorrect? The input combination represented by point A leads to an output level of 55. The input combination represented by point P leads to an output level of 50. The input combination represented by point B leads to a total production cost greater than 275. The input combination represented by point P minimizes the total production cost for a production level equal to 50

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