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ECO205Y5 Lecture : CV Graph (Handout) III

Canada

Microeconomic Theory and Applications (for Management)

Economics

Prof.H

University of Toronto Mississauga

Continuing Italian

Statistics for Management

<p dir="ltr">The marshall plan generated economic growth by:&nbsp;</p>
<p>&nbsp;</p>

<p>The total income generated from the production of final goods and services in a country is equal to ____________.</p>

<p><p>If the last dollar spent on capital generated $1.05 in return while the last dollar spent on labor generated $0.99 in return, then in the long-run the firm should</p> <table summary=""> <tbody> <tr> <td style="vertical-align:middle;"> <p>A. reduce its spending on labor and increase its spending on capital</p> <p>B. reduce its spending on capital and increase its spending on labor</p> <p>C. continue to use the current combination of labor and capital</p> </td> </tr> <tr> <td style="vertical-align:middle;white-space:nowrap;"></td> <td style="vertical-align:middle;"></td> </tr> </tbody> </table></p>

ECO205Y5 Lecture : CV Increase/Decrease

ECO205Y5 Lecture : CV Increase/Decrease cont.

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ECO205Y5 Lecture : CV Graph (Handout) III

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