Example (The Case for substitutes) = 2k +L q= W = $3 += $4 g= 120 K, h =? show expasion path TC = ? on graph.

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
Problem 4.2IP
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what is the easiest and simplest way to do this cost minimization problem for substitutes (and graph if you can)

Example (The ave
1 q = 2k +L
for substitutes)
W = $3
+= $4
9=120
K, L = ?
TC = 7
show expansion
path
ол
graph?
Transcribed Image Text:Example (The ave 1 q = 2k +L for substitutes) W = $3 += $4 9=120 K, L = ? TC = 7 show expansion path ол graph?
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