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Unformatted text preview: Can you derive and graph the isoprofit lines? What happens as the wage for factor 1, w 1 , or factor 2, w 2 , increase or decrease, or as the price of the output p changes? 4. Be able to define and graph the long run equilibrium problem for a firm. Can you describe the factor demand curves? 5. Be able to graph and describe how we can use revealed profitability at different sets of prices to estimate the shape of a technology....
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This note was uploaded on 08/08/2008 for the course ECON 301 taught by Professor Hansen during the Spring '08 term at Wisconsin.
 Spring '08
 Hansen
 Economics, Microeconomics

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