Long run cost function including the tax

Assignment Help Business Economics

Reference no: EM13861606

Consider the following production function f(k,l) = k^1/3 + l^1/3

Suppose the government taxes labor at by an amount t per unit of labor. Rewrite the long run cost function including the tax.

Reference no: EM13861606

Questions Cloud

Discuss what happens to the average inventory level : Discuss what happens to the average inventory level if the demand uncertainty is high. (Your response must include the formula for the average inventory level.)

Consider the partial derivative of the cost function : Consider the following production function: f(k,l) = k^1/3 + l^1/3. Does an increase in the tax increase the cost linearly? Why or why not? HINT: Consider the partial derivative of the cost function with respect to t.

How many first place votes are needed for a majority? : Normal 0 false false false EN-US X-NONE X-NONE How many first place votes are ..

Design piracy in the fashion industries of paris : Article Discussion read the three academic articles as assignment for each. . discussion questions with your answers/ opinions and then. Design Piracy in the Fashion Industries of Paris and New York in the Interwar Years

Long run cost function including the tax : Consider the following production function f(k,l) = k^1/3 + l^1/3. Suppose the government taxes labor at by an amount t per unit of labor. Rewrite the long run cost function including the tax.

Every bundle of cigarettes and coffee that jacob could trade : Jacob consumes 2 goods, coffee and cigarettes, 3 cigarettes can be traded for 1 cup of coffee in a free market, or 1 cup of coffee can be traded for 3 cigarettes, Jacob initially has 12 cigarettes and 5 cups of coffee. Find an equation that gives eve..

Why do you think congress cut the science budget : Why do you think Congress cut the Science and Technology (S&T) budget so drastically? As President, would you sign or veto the bill that was presented by Congress? Why or why not?

The blood into the bowel every day : A huge amount of water-- to L--moves from the blood into the bowel every day, through osmosis and digestive secretions. Since people only have L of blood, why don't they die from losing all the water from their blood into the bowel? What will the ..

User Account

All Pages