Question
A competitive firm uses one input, x to maximize profits in short run. Its production function is q = 10x 1/2 . The input factor
A competitive firm uses one input, x to maximize profits in short run. Its production function is q = 10x 1/2 . The input factor price is Rs. 10 and price of output is Rs. 20. Write down condition of profit maximization of the firm under short run and find out amout of the factor that the firm demands in detail.
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Microeconomics
Authors: Christopher T.S. Ragan, Richard G Lipsey
14th canadian Edition
321866347, 978-0321866349
