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Homework answers / question archive / Question 3 (10 points) The production of palm oil requires two inputs, land and labor
Question 3 (10 points) The production of palm oil requires two inputs, land and labor. Land is considered to be a fixed input. The labor cost in RM to produce y tonnes of palm oil is c(y) = y). There are 75 identical palm oil plantations which all behave competitively. (a) What is the individual plantation's supply curve of palm oil? [2 points)