a. Suppose the inputs in Problem 3 can be purchased at the same price per unit. Will
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b. Suppose input prices are PL = 40 and PK = 80 and the price of output is 10. Determine the optimal quantity of each input.
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a The marginal products for labor and capital are given by MP L 10 L and MP ...View the full answer
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Related Book For
Managerial economics
ISBN: 978-1118041581
7th edition
Authors: william f. samuelson stephen g. marks
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