Need Economics Expert for two small questions
h) Find the cost function under the assumption that w2 > 4w1 (Hint: treat w1 as a constant parameter.).
Explain why this cost function is independent of w2 as long as w2 > 4w1.
i) Find the marginal cost function associated with part h) above and show that it is independent of y.
How does this marginal cost function depend on w1? Explain your results.
8 years ago
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