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Unformatted text preview: ii. constant return: zero iii. decreasing returns: 5 11 iv. negative returns: 11 12 b. Q = 34; crew size should be 10 to minimize output cost c. APx = 4.0; crew size of 6 to 7. 4. Optimum crew size is at value of 9, shown by the chart, in the 10 th line by marg revenue product and marginal factor cost at a value of 150....
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This note was uploaded on 01/30/2011 for the course ECO 5705 taught by Professor Kest during the Spring '10 term at Hodges University.
- Spring '10