Suppose c wl rk and q l 13k 14 and perfect competition
Suppose c = wL + rK and q = L 1/3K 1/4 and perfect competition in all markets.
(a) Find the demand for labor and capital and the supply of q.
(b) If p = 8, w = 1 and r = 2, find the quantity supplied and the profits.
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suppose c wl rk and q l 13k 14 and perfect competition in all marketsa find the demand for labor and capital and the
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