4. Given • Labor input price IDR 25,000 • Capital input price IDR 50,000 • The total fund owned by the producer is IDR 100,000,000 • Production function Q = 400 PL From these data it is requested: A. Determine the Isocost Equation B. Determine the marginal function of each input C. Determine the producer's equilibrium point, along with the proof.

4. Given • Labor input price IDR 25,000 • Capital input price IDR 50,000 • The total fund owned by the producer is IDR 100,000,000 • Production function Q = 400 PL From these data it is requested: A. Determine the Isocost Equation B. Determine the marginal function of each input C. Determine the producer's equilibrium point, along with the proof.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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