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Consider the production function given as Y=X_1^(3/4) X_2^(1/4) . Find the least cost combination of X_1 and X_2 to produce 12 units of Y ,
Consider the production function given as Y=X_1^(3/4) X_2^(1/4) . Find the least cost combination of X_1 and X_2 to produce 12 units of Y , when: P_(X_1 )=3 and P_(X_2 )=1 P_(X_1 )=48 and P_(X_2 )=1
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A Textbook Of Mathematical Economics
Authors: Dr Chandrakant Singh
1st Edition
9353140986, 9789353140984
