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Question: nt assume the firm finds that its profit will be...

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nt Assume the firm finds that its profit will be at maximum when it produces $400 worth of product A. Suppose also that each of the two techniques shown in the following table will produce the desired output. If the company choose the most desirable technique, will the industry expand or contract? Price Resources Resource units required resources Technique Technique Technique Technique Labor Land Capital Entrepreneurial $2 $4 $3 $5 #1 50 20 20 40 #2 30 20 50 40 #3 40 30 30 50 #4 35 20 40 45 Expand O Contract O both either
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