lecture 12

Lecture 12 - Entrepreneurial skill The firm has Fixed and variable costs Average and Marginal Costs Average is 70 on test Website

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The Firm Is: A bundle of contracts A profit-maximizing organization With a principal-agent problem The firm combines: Land (natural resources) Labor (Human Resources)
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Unformatted text preview: Entrepreneurial skill The firm has: Fixed and variable costs Average and Marginal Costs Average is 70 on test Website http://netfiles.uiuc.edu/leuthold/Choice/choice.htm...
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This note was uploaded on 04/20/2008 for the course ECON 201 taught by Professor Williams during the Fall '08 term at UVA.

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