A product can be produced by using inputs L and K and firm’s present output position indicates MP K.
A emanation can be performed by using inputs L and K and fast’s introduce output lie indicates MP K = 3, P K = Re 1, MP L = 6 and P L = Rs 4. Is the fast employing absorb minimizing synthesiss of input K and L? If not, what should the fast do? 5If two factors of emanationion keep the selfselfsame require, what obtain be the arise of Isoquant at the lowest absorb output?
Show that in straight congruous Cobb-Douglas emanationion business X = AK α L 1 – α , medium emanation of labour and marginal emanation of labour depends simply upon the pertinency of factors and it shows immutable returns to flake. How does a purpose elect an optimal input synthesis to maximize output matter to a dedicated absorb?