The production function is f(x1, x2) = x1^1/2*x2^1/2 . If the price of factor 2 is $6

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The production function is f(x1, x2) = x1^1/2*x2^1/2 . If the price of factor 2 is $6 and the price of factor 1 is $12, in what proportions should the firm use factors 1 and 2 if it wants to maximize profits?

Posted Date: Jun 13, 2024 02:10 AM

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The production function is f(x1, x2) = x1^1/2*x2^1/2 . If the price of factor 2 is $6

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