13) You begin to work at a factory that produces Aguardiente (Firewater, a type of alcoholic beverage), the function of production its represented by the technology: Q(L, K, Z) = L³ K*z! Where with offers of input perfectly elastic A) Salary w is the price of labor L. B) Interest r is the price of capital K. C) Rent q is the price of drinkable alcohol Z. Calculate The function of demand for each input The function of offer for the Firewater The function of total costs for the Firewater The maximum benefit.

13) You begin to work at a factory that produces Aguardiente (Firewater, a type of alcoholic beverage), the function of production its represented by the technology: Q(L, K, Z) = L³ K*z! Where with offers of input perfectly elastic A) Salary w is the price of labor L. B) Interest r is the price of capital K. C) Rent q is the price of drinkable alcohol Z. Calculate The function of demand for each input The function of offer for the Firewater The function of total costs for the Firewater The maximum benefit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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