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suppose the wage is 10 but the price of coal is only 5. 1.What is the relative price of labour? 5/10= 1/2 2.Using the method

suppose the wage is 10 but the price of coal is only 5.

1.What is the relative price of labour?

5/10= 1/2

2.Using the method in the text, write down the equation of the isocost line for c = 60, and rewrite it in the standard formy=a+bx.

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