Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN: 9781337517942
Author: NICHOLSON
Publisher: Cengage
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Chapter 10, Problem 10.5P

a)

To determine

To find:

Allocation of output between factories.

b)

To determine

To know:

Short-run total cost, average cost, marginal cost of 100th, 125th and 200th widget.

c)

To determine

To know:

Allocation of widget production between two factories in long run.

d)

To determine

To know:

Allocation of widget production between two factories in long run when diminishing returns sets in.

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