2. Show that the profit function is convex in (p, w). 3. Find the profit function for the Cobb-Douglas production fur with A > 0, a1, a2 > 0 and a1+a2 <1. 4. Verify Hotelling's Lemma for the Cobb-Douglas production 5. Find the supply function and the input demand functions function: f(1, 12) = A(ax{ + (1 – a)x2)8/e where A > 0, B > 0, 0 < a < 1, and 0 # p< 1. 6. Find the profit function for the CES production function.
2. Show that the profit function is convex in (p, w). 3. Find the profit function for the Cobb-Douglas production fur with A > 0, a1, a2 > 0 and a1+a2 <1. 4. Verify Hotelling's Lemma for the Cobb-Douglas production 5. Find the supply function and the input demand functions function: f(1, 12) = A(ax{ + (1 – a)x2)8/e where A > 0, B > 0, 0 < a < 1, and 0 # p< 1. 6. Find the profit function for the CES production function.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter4: Polynomial And Rational Functions
Section4.6: Variation
Problem 2E
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