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  2. Topic
    Business
  3. Study Set
    Intermediate Microeconomics
  4. Exam
    Exam 21: Firm Supply
  5. Question
    A Firm Faces Competitive Markets Both for Its Inputs and Its
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A Firm Faces Competitive Markets Both for Its Inputs and Its

Question 3

Question 3

True/False

A firm faces competitive markets both for its inputs and its outputs. If its long-run supply curve is q = 3p,then it cannot have constant returns to scale.

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