Business, 01.12.2021 23:00 angel41583

A competitive firm produces a single output using several inputs. The price of output rises by $4 per unit. The price of one of the inputs increases by $2 and the quantity of this input that the firm uses increases by 8 units. The prices of all other inputs stay unchanged. From the weak axiom of profit maximization we can tell that: a. the output of the good must have increased by at least 4 units.
b. the inputs of the other factors must have stayed constant.
c. the output of the good must have decreased by at least 2 units.
d. the inputs of at least one of the other factors must have decreased by at least 8 units.
e. the inputs of at least one of the other factors must have increased by at least 8 units.

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A competitive firm produces a single output using several inputs. The price of output rises by $4 pe...

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