a) Find the formula for the firm's isoquants, and sketch the isoquant for y = 16 in a diagram. D) Compute the firm's optimal input combination (x(16),x(16)), and illustrate it in your diagram in a). Explain your steps. What are the firm's costs of producing 16 units? =) Find the firm's cost function C(y). Explain what you are doing.

a) Find the formula for the firm's isoquants, and sketch the isoquant for y = 16 in a diagram. D) Compute the firm's optimal input combination (x(16),x(16)), and illustrate it in your diagram in a). Explain your steps. What are the firm's costs of producing 16 units? =) Find the firm's cost function C(y). Explain what you are doing.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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