Question: =+a. Set up the profit maximization problem (assuming input prices w and r and output price p). Then solve for the input demand and output

=+a. Set up the profit maximization problem (assuming input prices w and r and output price p). Then solve for the input demand and output supply functions. (Note: This is identical to parts B(b)

and

(c) of exercise 12.2, so if you have solved it there, you can simply skip to part

(b) here.)

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