6 - run Please include representative graphs of all...

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ECO& 4616 In-Class Exercises &AME: Prof. Francisca Antman Exercise 6—Substitution and Scale Effects What is the effect of an increase in the price of capital on labor and capital demand in the long-
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Unformatted text preview: run? Please include representative graphs of all scenarios in your answer and decompose any responses into any scale and substitution effects graphically and in words where applicable....
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