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Fredrik sells lemonade in Stockholm. His cost function is (1,2,)=2w11/2w21/2y3/2, where is the number of units of lemonade produced. (a) If lemons cost $1 per
Fredrik sells lemonade in Stockholm. His cost function is (1,2,)=2w11/2w21/2y3/2, where is the number of units of lemonade produced.
(a) If lemons cost $1 per pound, the wage rate is $1 per hour, and the price of lemonade is , what is Fredriks supply function? NEED EXPLANATION, ANSWER IS s(p)=P^2/9
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