Explain how much of input 2 does it use. b what is the most, Ask an Expert

Economics

Mathematical economics: Problem of A firm production function 3x1/3 y1/3, where x is amount of input 1 and y input 2. Price of output is 1 and price of input are wx and wy. Constrained is to use 1000 units of input 1. A) Explain how much of input 2 does it use? B) What is the most that it is willing to bribe an inspector to allow it to use another unit of input 1?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9222860

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