Draw an isoquant-isocost line graph to illustrate the following situation and the change that occurs: Jill Johnson

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Draw an isoquant-isocost line graph to illustrate the following situation and the change that occurs: Jill Johnson can rent pizza ovens for $2,000 per week and hire workers for $1,000 per week. Currently, she is using 5 ovens and 10 workers to produce 20,000 pizzas per week and has total costs of $20,000. Then Jill reorganizes the way things are done in her business and achieves positive technological change.

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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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