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QUESTION 5 Let c(w; y) be a cost function, and let A E (0; 1). We have: a. (Aw'+ (1-A)w"y)> Ac(w; y) = (1-A)c(w", y) b. o(Aw'+ (1-A)wy) < Ac{w; y) + (1 - A)c(w"; y) c. Not enough information Od. qAw'+ (1- A)w", y) > Ac(w*, y) + (1 - A)c(w", y)

QUESTION 5 Let c(w; y) be a cost function, and let A E (0; 1). We have: a. (Aw'+ (1-A)w"y)> Ac(w; y) = (1-A)c(w", y) b. o(Aw'+ (1-A)wy) < Ac{w; y) + (1 - A)c(w"; y) c. Not enough information Od. qAw'+ (1- A)w", y) > Ac(w*, y) + (1 - A)c(w", y)

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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QUESTION 5 Let c(w, y) be a cost function, and let A E (0; 1). We have: Oa. q(Aw'+ (1 -A)w", y) > Ac(w; y) = (1 - A)c(w y) Ob.dAw'+ (1 - A)w", y) < Ac(w;, y) + (1 -A)c(w"; y) c. Not enough information Od. c(Aw' + (1 - A)w", y) > Ao(w, y) + (1 -A)c(w", y) QUESTION 6 Suppose cost function c(w1;w2; y) = w1/2w222. The conditional demand for input 1 is: Hints: (Shephard lemma, pg 5-6 in Chapter cost) The conditional demand for input 1, x1(w1,w2,y) = the deri function c(w1,w2,y) with respect to w1. a. (1/2)(w2/w1)y? b. (w2/w1)y? E (1/2) (w2/w1)2 y2 d. (w2/w1)1/22
Transcribed Image Text:QUESTION 5 Let c(w, y) be a cost function, and let A E (0; 1). We have: Oa. q(Aw'+ (1 -A)w", y) > Ac(w; y) = (1 - A)c(w y) Ob.dAw'+ (1 - A)w", y) < Ac(w;, y) + (1 -A)c(w"; y) c. Not enough information Od. c(Aw' + (1 - A)w", y) > Ao(w, y) + (1 -A)c(w", y) QUESTION 6 Suppose cost function c(w1;w2; y) = w1/2w222. The conditional demand for input 1 is: Hints: (Shephard lemma, pg 5-6 in Chapter cost) The conditional demand for input 1, x1(w1,w2,y) = the deri function c(w1,w2,y) with respect to w1. a. (1/2)(w2/w1)y? b. (w2/w1)y? E (1/2) (w2/w1)2 y2 d. (w2/w1)1/22
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