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Blakksheep33 Blakksheep33
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A year ago
In the long run, a profit-maximizing firm producing a given level of output chooses the production method that

▸ leads to a flat total cost curve.

▸ minimizes labour input.

▸ produces that output at the lowest possible cost.

▸ maximizes the marginal product of all factors.

▸ maximizes the marginal product of labour.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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clubber25clubber25
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A year ago
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