The production function of a competitive firm is described by the equation y = 2.x26x,2. The factor prices are pi = $3 and p2 = $4 and the firm can hire as much of either 3. factor it wants at these prices. What is the firm's marginal cost?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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3.
The production function of a competitive firm is described by the equation y
2.x26x. The factor prices are pi
$3 and p2
$4 and the firm can hire as much of either
factor it wants at these prices. What is the firm's marginal cost?
Transcribed Image Text:3. The production function of a competitive firm is described by the equation y 2.x26x. The factor prices are pi $3 and p2 $4 and the firm can hire as much of either factor it wants at these prices. What is the firm's marginal cost?
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