Question: Computer Science..... Consider production function f ( x 1 , x 2 ) = x 1 1 2 x 2 1 2 ( input 1
Computer Science.....
Consider production function input is labor and input is capital
a Draw isoquant curves for and draw isocost curves for and
b Find the longrun cost for
c Draw a shortrun production function by fixing capital at Take on the horizontal axis and on the vertical axis
d Fix capital input at Draw a shortrun laborrequirement curve by inverting the shortrun production function. Take on the horizontal axis and on the vertical axis
e Fix capital input at What is the fixed cost What is the variable cost function Derive it analytically. What is the total cost function
f Derive the marginal cost and average cost function analytically go back to the definitions Draw them on a figure.
Write a code to reverse a number
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