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4. Suppose the two-input production function has corresponding cost function: C(q,)=1+ a. Find conditional factor demands b. is the production

This question was answered on Jan 22, 2013. View the Answer
Advanced Microeconomics-General Equilibrium
a. Find conditional factor demands
b. is the production function homothetic?
c. draw the marginal and average cost curves for w1 = w2 = 1.
d. Find the profit function π(p, ) for all values of p>0, >0

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4. Suppose the two-input production function has corresponding cost function: C(q,)=1+ a. Find conditional factor demands b. is the production function homothetic? c. draw the marginal and average cost curves for w1 = w2 = 1. d. Find the profit function π(p, ) for all values of p>0, >0
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4. Suppose the two-input production function has corresponding cost function:
2 2 C(q, w1 , w2 )=1+ w1 w2 q a. Find conditional factor demands This is given by the derivative of the cost function...

This question was asked on Jan 17, 2013 and answered on Jan 22, 2013.

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