Unformatted text preview: are w 1 = $1 and w 2 = $2. Draw the isocost line corresponding to an expenditure of $12. (c) What is the costminimizing expenditure for y = 3? (d) Calculate the cost function c ( w 1 , w 2 , y ). 10 15 5 10 x 2 5 x 1...
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 Summer '07
 Dr.ShomuBanerjee
 Economics, Microeconomics, $1, $2, $12, Shomu Banerjee

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