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pls answer c and d.. asap with step by step.. thankuu! Let a firm's production function be f(K,L)=2K1/2L1/2 (a) Solve for the contingent demand functions
pls answer c and d.. asap with step by step.. thankuu!
Let a firm's production function be f(K,L)=2K1/2L1/2 (a) Solve for the contingent demand functions for K and L (b) Find the total cost function, the average cost function and the marginal cost function. (c) Find the minimal amount of K and L necessary to produce q=8 when w=1 and v=2. (d) Suppose the price w increases from 1 to 2 . What happens to the demands for K and L and the total cost Step by Step Solution
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