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On a small troprcal island, two firms draw on the same supply of labor and capital. he first firm produces fish. and in the fishing industry the...

Here are the last two problem of my problem set that I have struggled with. An explanation would be very appreciated. Thank you.

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answer 5&6.pdf

QUESTION 5 On a smell tmpieai island, two firms draw on the same supply of labor and eapital. The first firm produces fish. and in the fishing industry the marginal product of lab-er is 3 and the...

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