Show that the cost function c(w, y) of a competitive firm (example 2.31) is concave in input

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Show that the cost function c(w, y) of a competitive firm (example 2.31) is concave in input prices w.

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Foundations of Mathematical Economics

ISBN: 978-0262531924

1st edition

Authors: Michael Carter

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Question Posted: May 02, 2016 11:41 AM

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Show that the cost function c(w, y) of a competitive firm (example 2.31) is concave in input

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Suppose that x 1 minimizes the cost of producing at i...View the full answer

Foundations of Mathematical Economics

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