Question
The production function is f(x1, x2) = x1 + x2. Find the long-run total cost function TC(q) where q > 0 is the level of
The production function is f(x1, x2) = x1 + x2. Find the long-run total cost function TC(q) where q > 0 is the level of output. Let w1 > 0 be the cost of 1 unit of input 1 and w2 > 0 be the cost of 1 unit of input 2.
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Capital In The Twenty-First Century
Authors: Thomas Piketty, Arthur Goldhammer
1st Edition
067443000X, 9780674430006
