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Consider a firm using the following long-run technology: q=f(x1,x2)=1/3ln(x 1 )+1/6ln(x 2 )Where output and input prices are given by the non-negative constant vector(p,w1=2,w2=1). Which
Consider a firm using the following long-run technology:
q=f(x1,x2)=1/3ln(x1)+1/6ln(x2)Where output and input prices are given by the non-negative constant vector(p,w1=2,w2=1). Which of the following gives the firm's unconditional input demands(x1(p),x2(p))?
A.(p/3, p/3)
B.(p/3, p/6)
C.(p/6, p/3)
D.(p/6, p/6)
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