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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 represents the
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 represents the firm's profit maximizing level of supply ,q(p), as a function of the output price?
a.1/2ln(p/3)
b.1/2e2p
c.1/2ln(p/6)
d.1/2e(p/6)
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