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If the marginal product of L is MPL = 10K - L and the marginal product of K is MPK = 10L - K, then what is the maximum possible output when the total amount that can be spent on K and L is Rs 1000 and the price of K is Rs 5 and the price of L is Rs 5.
define scarcity and opportunity cost.Show how these concept are useful in managerial decision making
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what is objective
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how equilibrium output can be find in williamson model
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