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(SR Profit Maximization (Highest Isoprofit (Production plan), Constraint!…
SR Profit Maximization
Highest Isoprofit
Production plan
Constraint!
Production function
Constraint = max isoprofit
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P :arrow_down:
Slope flatter
y-intercept :arrow_up:
Isoprofit Line
Production plans
$P
Slide 8
Slide 9
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Firm
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CD example
LR Profit Maximization
Comparative Statics