Question
This is question 5.8 in Hal Varian's Microeconomics analysis 3rd edition. A firm has a cost function: c(y) = y^2 +1 if y>0 0 if
This is question 5.8 in Hal Varian's Microeconomics analysis 3rd edition.
A firm has a cost function: c(y) = y^2 +1 if y>0
0 if y=0
Let P be the price of output and let the factor prices be fixed. If p=2, how much will the firm produce? if p=1, how much will the firm produce? What is the profit function of this firm?
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
