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1. The production function of a firm is given by f(K, L) - 2K1/211/2 and factor prices for the inputs capital K and labour L

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1. The production function of a firm is given by f(K, L) - 2K1/211/2 and factor prices for the inputs capital K and labour L are r and w, respectively. For the exercises it may be useful to draw sketches to support your intuition. (a) What is the isoquant and its slope? What is the isocost line and its slope? (b) Find the conditional factor demand functions

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