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Q. 1. Use production function q(L, K) = L'"ª KV and derive the followings: Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma. (a) (b) (d)

Q. 1. Use production function q(L, K) = L'"ª KV and derive the followings: Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma. (a) (b) (d)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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solve sub parts b ,c and d early .i upvote definetly

but correctly solve  b,c and d

Q. 1. Use production function q(L, K) = L'"ª KV and derive the followings: Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma. (a) (b) (d)
Transcribed Image Text:Q. 1. Use production function q(L, K) = L'"ª KV and derive the followings: Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma. (a) (b) (d)
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