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Category > Economics Posted 07 Jun 2017 My Price 3.00

In a manufacturing plant, workers use a specialized machine to produce belts

In a manufacturing plant, workers use a specialized machine to produce belts. A new machine is invented that is laborsaving. With the new machine, the firm can use fewer workers and still produce the same number of belts as it did using the old machine. In the long run, both labor and capital (the machine) are variable. From what you know, what is the effect of this invention on the  and returns to scale? If you require more information to answer this question, specify what you need to know.

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Alpha Geek
(8)
Status NEW Posted 07 Jun 2017 02:06 PM My Price 3.00

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