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  • X - All X Are Perfect Substitutes. Foc: W X Indeterminate: Any Combination of X's Will Do. However, Corner Solution If W /X Min W /a,, W /a So That X Y/a

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    microeconomia avanzada

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    Ex 3.33

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    X - All X Are Perfect Substitutes. Foc: W X Indeterminate: Any Combination of X's Will Do. However, Corner Solution If W /X Min W /a,, W /a So That X Y/a

    Uploaded by

    study97hotmailcom
    microeconomia avanzada

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Exercise 3.

    33
    Calculate the cost function and the conditional input demands for the linear production
    function, y=ni=1 ixi..
    All xi are perfect substitutes.
    FOC: wi=xi
    Indeterminate: any combination of xs will do.
    However, corner solution if wi /xi=minw1/a1,, wn/an so that xi=y/ai .

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