Question: Suppose the total-cost function for a firm is given by a. Use Shephards lemma to compute the (constant output) demand functions for inputs l and

Suppose the total-cost function for a firm is given by

C = qwl3/3

a. Use Shephard’s lemma to compute the (constant output) demand functions for inputs l and k.

b. Use your results from part (a) to calculate the underlying production function for q.

C = qwl3/3

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