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Suppose a company has a production function as following F( 1 , 2 ) = 1 + 2 2 If the prices of 1 and
Suppose a company has a production function as following
F(1,2) =1 + 22
- If the prices of1 and 2 respectively is 10 and the price is 25, what is total cost required these companies for produce as many as 20 units outputs?
- If the value of1 isw1 and the price of2 isw2, then what is the formula for the total cost required by the company to produce y unit outputs?
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
