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Economics 2301 Assignment 8

Economics 2301 Assignment 8. Tony Lima. Chapter 10, Q. 2. Chapter 10, Q. 2 answer. Chapter 10, Q. 11. Chapter 10, Q. 11 answer. They will plant any field for which MRP > TVC. In 2004 they will plant fields 1, 2, and 3. In 2005 they will plant only 1 and 2. Chapter 11, Q. 15.

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Economics 2301 Assignment 8

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  1. Economics 2301Assignment 8 Tony Lima

  2. Chapter 10, Q. 2

  3. Chapter 10, Q. 2 answer

  4. Chapter 10, Q. 11

  5. Chapter 10, Q. 11 answer They will plant any field for which MRP > TVC. In 2004 they will plant fields1, 2, and 3. In 2005 they will plant only 1 and 2.

  6. Chapter 11, Q. 15

  7. Chapter 11, Q. 15 answer • At w = $1 the firm will hire 300 hours of labor because MRPL > w for every level of output. • 300 hours of labor produce 200 units of output.

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