Answer to Question #122110 in Macroeconomics for Ruby vohra

Question #122110
A competitive firm’s cost function is
1
Expert's answer
2020-06-15T11:20:23-0400

A competitive firm’s cost function is.

Where by a firm with no control in changing the market supply and demand, tries to maximize production of output and minimize cost of inputs. A firm archives this by considering the prices of inputs and quantity of output needed.


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