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State the properties of profit function

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1. The profits are non - negative.
2. The profit function is non - decreasing in output price.
3. The profit function is non - increasing in input prices.
4. The profit function is positively and linearly homogeneous in both and output prices.
5. The profit function is convex in all prices.

Jonmhumble answered the question on October 23, 2017 at 11:34

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