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Currently , where MPs and MPa are the marginal products of steel and aluminum for a company whose production function is Q = s 0.5
Currently , where MPs and MPa are the marginal products of steel and aluminum for a company whose production function is
Q = s0.5 a0.5. s: units of steel, a: units of aluminum, Ps = Pa = $1, are the prices of steel and aluminum, and the company has a total budget of $4 to spend on these inputs, and if the market price of the output is $3 per unit. (1)How many units of s and a should the firm hire? (2)What will be its output, revenues, costs and profits? (3) What will be its marginal cost?
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