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Mic 6
Fourth Lecture - THEORY OF PRODUCTION-2
, International Trade Theory and Evidence by Markusen Melvin Kaempfer and Maskus
Chap 05
Great introduction to as curve
Production With Two Variable Inputs-f
Production function in long run
AE equilibrium At full employment, real GDP equals potential GDP and the unemployment rate equals the natural unemployment. Y = Y FE u c = 0 g 3% 2% u.
Michael R. Baye, Managerial Economics and Business Strategy, 3e. ©The McGraw-Hill Companies, Inc., 1999 Managerial Economics & Business Strategy Chapter.
Costs Perloff Chapter 7. Economic cost business (accounting) costs: only explicit costs (out of pocket) economic costs: explicit cost + implicit cost.
Isocost.2
