Suppose that labor (worker hours) and capital (machine hours) are perfect substitutes in the production of widgets. Each widget can be produced in 20 minutes by a worker or in 15 minutes by a machine. The price of labor is $20 per hour, and the price of capital is $30 per hour. Derive the equation for long-run total cost
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Ответ:
An enzyme refers to a substance produced by a living organism which acts as a catalyst to bring about a specific biochemical reaction while a protein refers to any of a class of nitrogenous organic compounds.
Explanation:
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