Unformatted text preview: 4. Are these inputs substitutes or complements in the production function? Explain. 5. What is included in the price or cost of these inputs? 6. What happens to input usage when the economy in the Middle East improves and wages rise? 7. What happens to output when it becomes less costly to obtain plutonium? 8. What happens to output when the US allocates massive resources to airport security? 9. Do you think that Al Qaeda has market power in input markets? Does it take prices as given? Explain....
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- Spring '08