Question

. 1 a) Calculate the corresponding cost function, c(w,r,q). ·q=(min(L,3K)).5 ·q=L-1/K b) Draw a representative isoquant...

. 1

a) Calculate the corresponding cost function, c(w,r,q).

·q=(min(L,3K)).5

·q=L-1/K

b) Draw a representative isoquant for q=12

·Q=min(2L,(2(L+K))/3,2K)

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