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Denote the price of input-1 as p1 and the price of input-2 as p2. Further, let Q denote a target quantity level for the firm.
Denote the price of input-1 as p1 and the price of input-2 as p2. Further, let Q denote a target quantity level for the firm. Suppose, p1, p2, Q R +. Solve the firm's cost minimization problem to compute the conditional input demand functions: x 1 (p1, p2, Q), x 2 (p1, p2, Q)
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Survey of Economics
Authors: Irvin B. Tucker
8th edition
1111989664, 978-1133713357, 1133713351, 978-1111989668
