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Linear production processes

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Reference no: EM13887949

An economy with two produced commodities and labor has linear production processes represented by activity vectors (-1, -1, 3) and (-1, 2, -1), where the ?rst commodity is labor. If the price of labor is one, what are the prices of the other two commodities in a competitive equilibrium in which positive amounts of both the second and third goods are consumed?

Reference no: EM13887949

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