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Suppose we have a profit function given by TE (p; W) - P W Using the profit function above, derive: a. The supply function of
Suppose we have a profit function given by TE (p; W) - P W Using the profit function above, derive: a. The supply function of the firm b. The unconditional factor demand correspondence c. Would you expect (a) and (b) to be increasing or decreasing in output prices? Explain. d. Would you expect (a) and (b) to be increasing or decreasing in input prices? Explain
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