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

Quantity equation, Quantity Equation-Has this theory worked? Why or why not...

Quantity Equation-Has this theory worked? Why or why not?

MR AND MC, EXPLAIN THE MR AND MC APPROACH FOR EQUILIBRIUM DETERMINATION OF ...

EXPLAIN THE MR AND MC APPROACH FOR EQUILIBRIUM DETERMINATION OF FIRM IN SHORT RUN.

Artificial intelligence and neural networks, Problem >> Explore the rel...

Problem >> Explore the relationship between Artificial intelligence and Neural networks. The systems which use this type of intelligence are known as artificial intelligent

GLOBAL LOSSES, SUPPOSE MR.CHANSA DEPOSIT HIS MONEY INTO BANK-B,HOW WOULD TH...

SUPPOSE MR.CHANSA DEPOSIT HIS MONEY INTO BANK-B,HOW WOULD THE T-BALANCE SHEET LOOK LIKE FOR BANK-B

Slope of the aggregate expenditure curve, Consider an economy with the foll...

Consider an economy with the following characteristics: i. The price-level is fixed ii. The economy is closed (Exports - Imports = 0) iii. Government spending (G) and Inve

Money market in the AS-AD model, Q. Money market in the AS-AD model? g...

Q. Money market in the AS-AD model? goods and the money market in the AS-AD model We begin by studying goods market and money market when prices are no longer constant. Fi

Budget constraint, The consumer's utility function is u(x1,x2) = (x1) (x2)^...

The consumer's utility function is u(x1,x2) = (x1) (x2)^2 (a) Graph his budget constraint for p1 = 3, p2 = 2 and M = 900, and write down the equation for his budget line. (b)

Balance of payment, derive balance of payment line graphically

derive balance of payment line graphically

Perfectly competitive firm, Explain why a perfectly competitive firm does n...

Explain why a perfectly competitive firm does not expand its sales without limit if its horizontal demand curve indicates that it can sell as much as desires at the current market

Elucidate elasticity of supply using the midpoint formula, An attorney supp...

An attorney supplies 40 hours of work per week when her fee is $100 per hour but supplies 60 hours of work per week when her fee rises to $120 per hour. Using the midpoint formula,

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