Question
Consider the following cost function: f(x1, x2)=4x1^ 1/4 x2^3/4 (a). Find the conditional demands for input 1 and input 2. (b). Given prices for the
Consider the following cost function:
f(x1, x2)=4x1^ 1/4 x2^3/4
(a). Find the conditional demands for input 1 and input 2.
(b). Given prices for the two inputs as w1 = 1, w2 = 3, find the cost function.
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Basic Econometrics
Authors: Damodar N. Gujrati, Dawn C. Porter
5th edition
73375772, 73375779, 978-0073375779
