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Unformatted text preview: be available. Let us assume that machines, factory premises and the manager together make up for a lumpy unit of fixed factors. So long as variable factors are not employed no output can be produced. Since variable factors are divisible into small units, they can be employed and increased in small doses....
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This note was uploaded on 11/26/2011 for the course ECON MICRO ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10