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Dq_Wk3

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Q Having been trained in Managerial Economics, you are familiar with production functions, isoquant and isocost analysis, and other tools of microeconomics. How can you use these tools to decide the best path for your company to pursue? What are the pros and cons of using these tools?

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These tools are very useful and also they are used to create a lot of the things in place of the different kinds of the utilities. They are used to give the perfect amount of the idea on the production functions. The production functions are very useful in the sense that there is a very good way of understanding the different types of the issues on the amounts of the productions. There are many types of the questions that are related to the production process.