The technology for a firm is given as Y=xa  where 0 < a < 1 lets say the price of input is 5 and the output is 8  a) Obtain the demand for x and supply of y for this firm.

Calculus: Early Transcendentals
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Author:James Stewart
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Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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The technology for a firm is given as

Y=x where 0 < a < 1

lets say the price of input is 5 and the output is 8

 a) Obtain the demand for x and supply of y for this firm.

b) Derive the profit function of this firm and determine its degree of homogeneity.

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