Question 2: For the following production function and input prices, find the optimum production technology to achieve 50 units of output. �� = (�� + ��) 0.5 Pk:10, Pl:20. Find what type of returns to scale this firm exhibits.
Question 2: For the following production function and input prices, find the optimum production technology to achieve 50 units of output. �� = (�� + ��) 0.5 Pk:10, Pl:20. Find what type of returns to scale this firm exhibits.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 4SQP
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Transcribed Image Text:Question 2: For the following production function and input prices, find the optimum
production technology to achieve 50 units of output.
�� = (�� + ��) 0.5
Pk:10, Pl:20.
Find what type of returns to scale this firm exhibits.
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