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Author Question: The figure below shows the isocost lines and the isoquant map for a firm producing golf tees.FIGURE ... (Read 79 times)

eboni

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on: Oct 12, 2022

The figure below shows the isocost lines and the isoquant map for a firm producing golf tees.



FIGURE 8-5
Refer to Figure 8-5. Suppose there is a change in relative factor prices and the cost-minimizing method of producing 2000 golf tees is now at point D. If the total cost of producing 2000 golf tees is still $60, it must be the case that


◦ the price of labour fell and the price of capital remained constant.
◦ the price of labour and capital both rose.
◦ the price of labour and capital both fell.
◦ the price of labour rose and the price of capital fell.
◦ the price of labour fell and the price of capital rose.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by eboni on Oct 12, 2022

mllong

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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eboni

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Reply 2 on: Oct 12, 2022
Excellent

gcook

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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