= 2000060Q. It can sell in two markets with 4. A monopolist has cost function TC...

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= 2000060Q. It can sell in two markets with 4. A monopolist has cost function TC demand functions P + 2Q = 1000 and P2 +5Q2 monopolist maximise profit? = 2000 respectively. How can the 3. A firm has production function Q = a[bka+cL]. (a) Find the marginal rate of technical substitution. (b) Show that the marginal products satisfy the relation K Q L_ a + OK By aL = 5. (Exercise 5.5*, Problem 6) A firm wishes to maximise output, Q budgetary constraint C(K, L) = 3K+2L = 900. = KL, subject to a (a) Use substitution to find the values of K and L which maximise the output. (b) Compute the values of the partial derivatives of the objective function and the con- straint function at the optimal point, and verify that they are in proportion. = 2000060Q. It can sell in two markets with 4. A monopolist has cost function TC demand functions P + 2Q = 1000 and P2 +5Q2 monopolist maximise profit? = 2000 respectively. How can the 3. A firm has production function Q = a[bka+cL]. (a) Find the marginal rate of technical substitution. (b) Show that the marginal products satisfy the relation K Q L_ a + OK By aL = 5. (Exercise 5.5*, Problem 6) A firm wishes to maximise output, Q budgetary constraint C(K, L) = 3K+2L = 900. = KL, subject to a (a) Use substitution to find the values of K and L which maximise the output. (b) Compute the values of the partial derivatives of the objective function and the con- straint function at the optimal point, and verify that they are in proportion.