Find the Total Cost function as a function of q, c, d. A. w and r; and graph it in relationship to q in excel The idea is to solve the following input minimization problem ina general manner: minTC(K, L ) = wL+ rKs. t. q = AK^CL^d Make sure to set - up your spreadsheet by identifying the optimization problem, the endogenous variables, the exogenous variables and the constraint. Make sure also to show a cell that computes TRS and another that computes -w/r
Find the Total Cost function as a function of q, c, d. A. w and r; and graph it in relationship to q in excel The idea is to solve the following input minimization problem ina general manner: minTC(K, L ) = wL+ rKs. t. q = AK^CL^d Make sure to set - up your spreadsheet by identifying the optimization problem, the endogenous variables, the exogenous variables and the constraint. Make sure also to show a cell that computes TRS and another that computes -w/r
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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Find the Total Cost function as a function of q, c, d. A. w and r; and graph it in relationship to q in excel The idea is to solve the following input minimization problem ina general manner: minTC(K, L ) = wL+ rKs. t. q = AK^CL^d Make sure to set - up your spreadsheet by identifying the optimization problem, the endogenous variables, the exogenous variables and the constraint. Make sure also to show a cell that computes TRS and another that computes -w/r.
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