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Draw a line diagram illustrating the capital-labour decision once a de- sired level of output has been determined Show how the desired levels of capital and labour will

Draw a line diagram illustrating the capital-labour decision once a de- sired level of output has been determined. Show how the desired levels of capital and labour will change if rent becomes relatively cheaper than wages. Show how the diagram changes if a higher level of output is desired.

Apr 20 2020 View more View Less

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