Question: For a firm with a production function exhibiting perfect substitutes the expansion path would be determined by the relative prices of the two inputs The

For a firm with a production function exhibiting perfect substitutes the expansion path would be determined by the relative prices of the two inputs The firm will always choose the cheaper input to produce at the lowest cost For a firm with a production function exhibiting perfect complements the expansion path would be a straight line from the origin with a slope determined by the fixed input ratio and drw

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