Q. 1. Use production function q(L, K) = L'"ª KV and derive the followings: Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma. (a) (b) (d)

Q. 1. Use production function q(L, K) = L'"ª KV and derive the followings: Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma. (a) (b) (d)

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 11SQP

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Question

solve sub parts b ,c and d early .i upvote definetly

but correctly solve b,c and d

Q. 1. Use production function q(L, K) = L'"ª KV and derive the followings:
Short-run and long-run profit functions
Short-run and long-run cost functions
Short-run and long-run supply function using Hotelling's lemma.
Short-run and long-run supply function using Shephard's lemma.
(a)
(b)
(d)

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