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Author Question: The concept that explains firms possessing different bundles of resources is a. Resource ... (Read 119 times)

yoooooman

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on: Jul 1, 2018
The concept that explains firms possessing different bundles of resources is
 a. Resource heterogeneity
  b. Resource immobility
  c. Barriers to entry
  d. imitability

Question 2

The primary purpose of the Cobb-Douglas power function is to:
 a. allow one to make estimates of cost-output relationships
  b. allow one to make predictions about a resulting increase in output for a given increase in the inputs
  c. aid one in gaining accurate empirical values for economic variables
  d. calculate a short-run linear total cost function
  e. a and b


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nyrave

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

b


yoooooman

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

Jossy

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Reply 3 on: Yesterday
:D TYSM

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