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21-01-2023
Social Studies

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A firm uses labor (L) and capital (K) as inputs to produce a given output experiences a production function, Q = LK². Assume the firm can purcha 12 birr per unit and capital at 6 birr per unit. If the firm wishes to produce 20,C output in its production, then find the optimal combination of the inputs and the type of returns to scale. A For a firm under perfect competition it is given that the price set by the marke

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