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Business, 06.07.2021 19:30 jaffeisabel

How does a change in the price of one input change the​ firm's long-run expansion​ path? If the price of an input​ changes, then the A. slope of the isocost lines will​ change, and the firm will substitute ​, pivoting the expansion path toward the axis of the relatively more expensive input. B. slope of the isoquants will​ change, and the firm will substitute ​, pivoting the expansion path toward the axis of the relatively input. C. isoquants will shift in a parallel​ fashion, and the firm will substitute ​, pivoting the expansion path toward the axis of the relatively input. D. slope of the isocost lines will​ change, and the firm will substitute ​, pivoting the expansion path toward the axis of the relatively cheaper input. E. isocost lines will shift in a parallel​ fashion, and the firm will substitute away from both​ inputs, shifting the expansion path in a parallel fashion.

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How does a change in the price of one input change the​ firm's long-run expansion​ path? If the pric...

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