7.18. A researcher claims to have estimated input demand curves in an industry in which the production
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7.18. A researcher claims to have estimated input demand curves in an industry in which the production technology involves two inputs, capital and labor. The input demand curves he claims to have estimated are L ! wr 2 Q
and K ! w2 rQ. Are these valid input demand curves? In other words, could they have come from a firm that minimizes its costs?
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