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Production function: Q(L,K)=L^1/4K^3/4 w=10 per hour, r=5000/unit K=20 Market demand function:Q=350-20P competitive market with one firm representing output market find and draw isoquant mrts draw
Production function: Q(L,K)=L^1/4K^3/4
w=10 per hour, r=5000/unit
K=20
Market demand function:Q=350-20P
competitive market with one firm representing output market
- find and draw isoquant
- mrts
- draw isocost curve from given input price
- find sr and lr total cost, mc, avc
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Latin America's Economy Diversity, Trends, And Conflicts
Authors: Eliana Cardoso, Ann Helwege
1st Edition
0262531259, 9780262531252
