If Pfizer plans to produce one million flu vaccinations next year. This year there is a...
If Pfizer plans to produce one million flu vaccinations next year. This year there is a technical innovation in the production of flu vaccinations at Pfizer. What would happen to Pfizer's isoquant for q =1million? Describe the change, if there is one.
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Ans
Due to technical change isoquant shifts leftwards meaning that same output can be produced by using less resources
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