Question: Given ( the same as in Homework 4 ) Cobb - Douglas production function y = x 1 0 . 2 5 x 2 0
Given the same as in Homework CobbDouglas production function and input prices derive the cost function. Show your solving steps and results in the "Homework File Submission". points, which will be graded manually
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Use the cost function you derived in Question when output price is solve for the profit maximization from output perspective. Your solution is The maximum profit is Keep up to two decimal places for the calculation results.Tip: You might want to compare with results of Question before you fill out the result.
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