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When economists examine firms over time they must define the Short Run and Long Run Short Run –Only some inputs (e.g. labor) can be adjusted –Not enough. - ppt download
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MEANING OF PRODUCTION INPUT OUTPUT TRANSFORMATION PROCESS ENTRY INTO FIRMS EXIT OF FIRMS. - ppt download
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Chapter 7 The cost of production(1) Definition of cost Short-run and long- run cost curves. Cost minimization Production with two outputs — economies of. - ppt download
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