Unformatted text preview: (d) Which units of labor does this production function exhibit increasing, decreasing and constant returns? (e) What additional information would be needed to ﬁnd the long-run cost curves for this ﬁrm? (f) Demonstrate that the marginal costs for the ﬁrm calculated using only the MP L cuve and wage information are the same as those calculated using only the Variable cost curve....
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- Spring '10
- Economics, Economics of production