Calculate how many units of æ1 the profit-maximizing firm will demand in the short run if the production function is f(x1, x2) = x43x24. The level of æ2 is fixed at 14. Price of output „0.43 „0.2 32.6 and prices of inputs are wi 8.5 and w2 5.9.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter14: Pricing Techniques And Analysis
Section: Chapter Questions
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Calculate how many units of x1 the profit-maximizing firm will demand in the short run if the
production function is f(x1, x2) = x43 x24. The level of x2 is fixed at 14. Price of output
„0.43 „0.24
p = 32.6 and prices of inputs are wi
8.5 and w2 = 5.9.
Type your answer with at least 4 decimal digits!
Answer:
Transcribed Image Text:Calculate how many units of x1 the profit-maximizing firm will demand in the short run if the production function is f(x1, x2) = x43 x24. The level of x2 is fixed at 14. Price of output „0.43 „0.24 p = 32.6 and prices of inputs are wi 8.5 and w2 = 5.9. Type your answer with at least 4 decimal digits! Answer:
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