Question
For each of the production functions 1.f (K,L)=2K +L 2.f (k,L)=min{2K,K +L} 3.f (k,L)=K +min{K,L} 4.f (K,L)=max{K,2L} write down and solve the cost minimization problem
For each of the production functions
1.f (K,L)=2K +L
2.f (k,L)=min{2K,K +L}
3.f (k,L)=K +min{K,L}
4.f (K,L)=max{K,2L}
write down and solve the cost minimization problem of a firm with that technology of production subject to producing at least q units
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Macroeconomics Principles and Applications
Authors: Robert e. hall, marc Lieberman
5th edition
1111397465, 9781439038970, 1439038988, 978-1111397463, 143903897X, 9781439038987, 978-1133265238
