Answer to Question #206262 in Math for Ayyesha

Question

A competitive frim has the following production function, q=-6K-3L²-4KL +60K 34L. Where p is the market price, w is the wage, and r is the rental rate of capital, then:

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a. Write down the firm's profit function.

b. Derive the hotelling's lemma

Answer 1

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