Profit maximizing firm, Macroeconomics

Assignment Help:

A profit maximizing firm has a production function such that:

Y=K2L2

a) If P=10,rk=2,andWL=3 , what would be its optimum be? How can you show that it is a maximum?

b) How would the answer change if it needs to produce at least 100 units of Y and that it now is a cost minimizing firm?


Related Discussions:- Profit maximizing firm

Anti-trust legislation, Explain why anti-trust legislation supports a perfe...

Explain why anti-trust legislation supports a perfectly competitive market. Give at least one specific example of legislation to justify your explanation.

Illustrate the definition of money, Definition of Money We should defi...

Definition of Money We should define what we mean by money. Money has a long as well as interesting history and an understanding of how we came to use money is useful for any

Tariffs & quotas, the suitability of utilising a policy of tariffs and quot...

the suitability of utilising a policy of tariffs and quotas given the case of perfect competition.

Assignment, C=100+0.75Yd How do i calculate marginal propensity to consume...

C=100+0.75Yd How do i calculate marginal propensity to consume?

Name the largest budget deficit country, Name the largest budget deficit co...

Name the largest budget deficit country In 2009 Greece was eurozone country with largest budget deficit (about 16.0% of GDP), while Finland was the country with the smallest bu

Internatinal trade, HOW CAN A COUNTRY MAINTAIN EQUILIBRIUM GDP IN AFOREIGN ...

HOW CAN A COUNTRY MAINTAIN EQUILIBRIUM GDP IN AFOREIGN TRADE?

Average monthly total revenue from the sale, The Stop decay company sells a...

The Stop decay company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per month over the past year. Recently, its closest competitor, Decay fighter, redu

Per year interest rate, For an interest rate of 12% per year compounded con...

For an interest rate of 12% per year compounded continuously, find (a) the nominal rate per year, (b) the nominal rate per quarter, (c) the effective rate per quarter, and (d) the

The short-run macroeconomic equilibrium, The figure below defines an econom...

The figure below defines an economy's aggregate demand curve and its short-runand long-run aggregate supply curves (labelled AD, SRAS, and LRAS, respectively). practically,the econ

Production possibilities curve, Using a production possibilities curve, an ...

Using a production possibilities curve, an economy that produces an output combination less than the maximum possible is depicted by a point located. a. at the top corner of the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd