o Suppoe y: (1,k) = 'L* Ki. (Do not methat for Hhis quertin) pro duition fartion the languen joun firm, has ☺ Sappone fhe price of laber is $3 and Hhe price price f la p is $3 an. of" capital š2. Find , the aptimd imput combination (", k*) to produce i5 units. al hat is cust? the verulting minimized O Re do part @ but Hhis time, we ( 3,2, or 5); we leave them of, labor and the firm produces' y unite. Find the ap timal and K* as selutionr fumetias. Jon't wse mumbs open. Sugpon the pmice i fw, the prlce of capitál is $r, fumitins of (w, riJ). (w, Y,y). The Hhe londitional ' fastor drmand ard o Find this fiyme cnt fumntion. (How donr the minimized cont depund (w, ri y)? O Follaming pant (6), chuck of the demand fum times (w,v). farlor emans of derat'o in finms homg awas of degree 'o in are O Following pant (e), chark is bomgjenan of degue 1'in (w,r). the rost frow fioe

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question

Solve parts C to E

o Suppore
: E (1,k) =
metat for thois question.)
has
Ext. (Do not' wee
fonction
languan jian
the
® Suppre
the
of, capital š
price f laber is $3 and the price
2. Find, the aptimad imput
combination ct, k*) to prefuce iš umits. What is
the reralting minimized' cost?
O Re do pant ☺ but this time,
(3,2, or
of, labor
and the firm poodue s' y unita. Frmd the op timal
C and kt
solutione
fumetine.
Jon't
use numbes
we
5); we leave them
open. Sugou tha price
fw, Hhe price of capital is r
fumitims of (w, riy). Te
londi tional
as
Hhe
factor druand
© Find Hais fiym cost
minimised cont depand
funtion. (iHoo donr the
(w,r;y)?
O Follming pant 6, check of the condinl fautor
Jemand fuie fien s
(w,r).
homay wns of degue o in
O Following part (6),
check
is hompyeonan' of 'deguee 1 in '(w,r).
the rost fawr ine
Transcribed Image Text:o Suppore : E (1,k) = metat for thois question.) has Ext. (Do not' wee fonction languan jian the ® Suppre the of, capital š price f laber is $3 and the price 2. Find, the aptimad imput combination ct, k*) to prefuce iš umits. What is the reralting minimized' cost? O Re do pant ☺ but this time, (3,2, or of, labor and the firm poodue s' y unita. Frmd the op timal C and kt solutione fumetine. Jon't use numbes we 5); we leave them open. Sugou tha price fw, Hhe price of capital is r fumitims of (w, riy). Te londi tional as Hhe factor druand © Find Hais fiym cost minimised cont depand funtion. (iHoo donr the (w,r;y)? O Follming pant 6, check of the condinl fautor Jemand fuie fien s (w,r). homay wns of degue o in O Following part (6), check is hompyeonan' of 'deguee 1 in '(w,r). the rost fawr ine
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