=+c. Substitute y 5 e 21,2b2 into your first order condition and, using the quadratic formula, solve
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=+c. Substitute y 5 e 21,2b2 into your first order condition and, using the quadratic formula, solve for y. Then, recognizing that y 5 e 21,2b2 implies ln y 5 21, 2 b2, solve for the two implied labor inputs and identify which is profit maximizing (assuming that an interior production plan is optimal).
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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