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Unformatted text preview: w 1 on the f rm’s use of each input and on its output q ? [hint: You do not have to explicitly determine the f rm’s supply curve of output to determine ∂ q/ ∂ w 1 . Instead write out the total derivative of q and make use of the very simple expressions for ∂ q/ ∂ z 1 and ∂ q/ ∂ z 2 at the optimum that can be obtained from the f rst order conditions.] (e) Is the f rm’s production function strictly concave? Explain 2. Do question #2 from Exercise 11.6 (page 341) 3. Do question #1 from Exercise 11.7 (page 345) 1...
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This note was uploaded on 09/13/2009 for the course EOCNOMICS Econ 331 taught by Professor Kelvinkwainger during the Spring '09 term at Simon Fraser.
- Spring '09