Q1 suppose we use two inputs lets say capital and labor and, Ask an Expert

Economics

Q1. Suppose we use two inputs, let's say capital and labor, and the price of capital is Pk and the price of labor is Pl. If we want to know the optimal input combination in the long run, what condition must be met?

Q2. If the consumer budget constraint is given by 4F + 1 S = 994, where F is food and S is shelter, Explain how much shelter can she buy if she purchases 2 units of food? (Round your answer to 1 decimal point)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9723781

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