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Using Table 10

Question 34

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Using Table 10.2 above calculate the unit cost of production for each type of technology assuming that the price of capital and labor are both $1 each per unit of input. Which technology would the firm use and why? Using Table 10.2 above calculate the unit cost of production for each type of technology assuming that the price of capital and labor are both $1 each per unit of input. Which technology would the firm use and why?

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