Question
Suppose that production function is given by zF(K,N^d)=zK^1/4(N^d)^3/4 , with z=2,k=16. Let w be the wage rate. 1. Write his profit maximization problem. 2. Given
Suppose that production function is given by
zF(K,N^d)=zK^1/4(N^d)^3/4 ,
with z=2,k=16. Let w be the wage rate.
1. Write his profit maximization problem.
2. Given W, derive the labor demand N^d(w).
3. Find his profit maximizer N^d(w)
Please write some details, thank you.
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
