Question: Please Answerer these short answer questions, I have been having some difficulty grasping the concept, thank you! -What is the shape isoquants for Leontief production
Please Answerer these short answer questions,
I have been having some difficulty grasping the concept, thank you!
-What is the shape isoquants for Leontief production functions have?
-describe why a firm's short run total cost curve doesn't start at origin.
-True or False?
If technological progress makes both inputs a firm uses more productive, its isoquant will shift out , relative to the one prior to technological change. briefly explain your answer.
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