How do technology and input prices affect cost functions

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Reference no: EM133396108

Question: How do technology and input prices affect cost functions? Use the anecdotes in the article about technologies and input prices, as well as your answer to Question #2, to compare GM's and Toyota's shortrun total cost functions. Graph GM's short-run total cost function and Toyota's short-run total cost function, clearly illustrating their relative shape.

Reference no: EM133396108

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