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A firm's production function is given by y = z1 2/5 z2 3/5. Input prices are w1 and w2. Input 2 is fixed at 32.
A firm's production function is given by y = z1 2/5 z2 3/5. Input prices are w1 and w2. Input 2 is fixed at 32. a) Derive the input demand function for z1. b) If w1 = 8 and w2 = 5, what is the least cost of producing 32 units of outpu
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Global Business Today
Authors: Charles W. L. Hill Dr, G. Tomas M. Hult
10th edition
1259686698, 978-1259686696
