=+d. Suppose w 5 20 and r 5 10. Determine the price p (as a function of
Question:
=+d. Suppose w 5 20 and r 5 10. Determine the price p (as a function of F) at which a firm using technology f would produce x.
, you should have derived the conditional input demands
,1w,r,x2 5 a ar bw b
b/1a1b2 a
x A
b 1/1a1b2 and k1w,r,x2 5 a bw ar b
a/1a1b2 a
x A
b 1/1a1b2
. (13.45)
The cost function was previously provided in equation (13.43).
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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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