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lectur15-page22 - quantity of the factors of production...

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22 Changes in the Cost of Production This implies that the prices of the factors of production have increased, or decreased. Changes in technology may affect the
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Unformatted text preview: quantity of the factors of production required, or the output derived from production factors, thus reducing cost as well....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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