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Question 6 Give an example of a specic good/ service whose production may have little substitutabil ity between inputs. Draw isoquants. Give an example of
Question 6 Give an example of a specic good/ service whose production may have little substitutabil ity between inputs. Draw isoquants. Give an example of another good/ service for which production may have more substitutability between inputs, and draw isoquants. Question 7 Why might production exhibit diminishing marginal product? Why might production exhibit diminishing marginal technical rate of substitution? What's the difference between the concepts
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